Is Bitcoin Really On The Brink Of A Mass Breakout?
Nigel Green, the CEO and Founder of deVere Group has spoken out about Bitcoins capacity to embark on a global level breakout, one that will see Bitcoin hit a new all time high and continue to climb, exceeding international expectations and making a lot of people very rich in the process. Green believes this is down to FOMO, a fear of missing out, driving people towards Bitcoin investment when itâs price starts to climb. As a result of this FOMO, more people will start to panic buy, initiating a huge flow of money into Bitcoin, in turn pushing prices to the moon. With that, the rest of the markets are sure to follow too.
Now, remember, this is not investment advice, just the words of one bullish investor. Do not invest based on this information, instead, go and do your own extensive research, only invest what you can afford to lose.
According to Business Cloud, Green has said:
âBitcoin and other cryptocurrencies are, I believe, on the verge of a true global breakout. This is largely due to FOMO â the Fear Of Missing Out. Adoption is increasing all the time. This is evidenced not only in the financial sector, in which major banks are increasingly looking at blockchain and crypto, but with big names within the tech and retail sectors too.â
FOMO will not only bring in public investment, it is going to push institutions towards investment too. Simply put, when the Bitcoin price starts to climb again, people and institutions alike are going to feel like they need to invest:
âI feel that thereâs a growing sense amongst institutions that unless they embrace this sector, their competitors could move way out in front and they might find it difficult to catch up. This is especially true as the public â their customers â are increasingly eager to explore the opportunities themselves. Iâm not sure weâll see the stratospheric rise in cryptocurrency prices that we experienced at the end of 2017. However, with growing acceptance that that they are indeed the future of money, I believe that the environment is now right for an upswing before year-end.â
Fear driven institutional investment
In Greenâs eyes, it is fear driven institutional investment that will help bring Bitcoin to the next level, beyond $30,000.00 and maybe even as far as $40,000.00 +.