Nigel Green, Chief Executive Officer of deVere Group, said: “Bitcoin – the world’s highest profile and largest by market-cap cryptocurrency – slumped by 30 percent last week. There’s increasing scrutiny of the market by governments around the world, plus enhanced regulation. Therefore, it is perhaps unsurprising that some have questioned the timing of the official launch of deVere Crypto. However, demand for cryptocurrencies is set to skyrocket in 2018 as more people get to know about them and use them, and as the interest of governments and businesses, and more regulation, demonstrate how the market is maturing and becoming ever-more mainstream.
The Industry Spread > Industry News > deVere Group launches Crypto app as Bitcoin should “surge by 50 to 60 percent”
As cryptocurrencies face closer scrutiny ever since CFTC allowed the largest institutional exchanges in the world to list bitcoin futures. Volatility spiked even further in December and prices started to drop in early January 2018.
While increasingly under pressure, with bitcoin trading under $8,000, independent financial consultancy company deVere Group, has launched an app that allows users to store, transfer and exchange currently three major cryptocurrencies, namely Bitcoin, Ethereum, and LiteCoin. deVere Group’s Chief Executive Officer Nigel Green expects demand for cryptocurrencies to skyrocket in the next 12 months and Bitcoin price to shoot up by 50 to 60 percent.
Available for Apple and Android, deVere Crypto will add more cryptocurrencies in the coming weeks as the deVere Crypto Research Department analyses their inherent values.
“Bitcoin will remain highly volatile over the next 12 months, which should be expected. When it recovers from its current position and if/when it climbs past the next major resistance point, we could see it surge by 50 to 60 percent, as many will jump in for fear of missing out for a second time. “As in all markets, this expected volatility is creating and will continue to create important buying opportunities.
Established in 2002 by CEO Nigel Green, deVere Group has well over 80,000 clients in more than 100 different countries and in excess of $10 billion under advice and administration. From FATCA, Retirement planning to Education planning and more, deVere Group offers an array of financial solutions to our clients which include international investors, expatriates and other globally-minded individuals.
“Bitcoin will come under increasing pressure from other cryptocurrencies in 2018, as the rivals up their game and as the similarities and differences become better known. Ethereum will put the squeeze on Bitcoin the hardest, with many analysts saying Ethereum is supported by superior technology and has more uses than the current dominant leader. In many ways, the Bitcoin vs Ethereum battle is reminiscent of the VHS vs Betamax tech format war of the 1980s. But there is room for several major players in cryptocurrencies, unlike in the video format market. deVere Crypto is designed to meet the growing need and want to store and transfer digital currencies in a digital age. We expect 50,000 downloads this year”, Green added.