Devere Group’s CEO, a financial advisory firm and asset management company, predicted a bull market and a significant rise in bitcoin prices during the fourth quarter.

Devere’s CEO predicts a bull run in Q4 for Bitcoin

Devere Group, a financial advisory and asset management company, has predicted that bitcoin’s price will rise significantly in the fourth quarter. Devere’s CEO and founder Nigel Green stated this early last week.

I believe we will soon witness a bull market that will result in a significant bounce for the world’s most popular digital currency.

Devere’s boss said: “Bitcoin’s current high correlation to major global stock markets such as Wall Street’s S&P500 and I’m confident the recent market downturn will be close to the bottom, and a rally in imminent.”

The CEO said:

As investors return to riskier assets, a rally in the stock market will help Bitcoin.

Green stated that the main factor driving the bitcoin rally will be that investors use BTC to hedge against high inflation.

Many, including Paul Tudor Jones, a well-known hedge fund manager, and Tim Draper (a venture capitalist), believe that cryptocurrency is an effective hedge against inflation.

Devere’s chief also noted that bitcoin is becoming an alternative to fiat currencies. Bill Miller, a veteran investor, explained previously that the Russia-Ukraine conflict and subsequent sanctions against Russia made people consider having an alternative currency to US dollars.

Green stated, emphasizing:

Bitcoin is increasingly being seen as an alternative to the dollar by investors.

Green also stated that his prediction of a bitcoin bull run would be supported by growing institutional investment. 70% believe crypto is a trustworthy investment and 68% say they actively recommend this asset class to other investors.

The CEO of Devere pointed out that regulators across the board are trying to create a regulatory framework for cryptocurrency. He stated:

Regulating, which I believe is necessary, would provide more protection and, thus, more confidence to both institutional and retail investors.

Green’s prediction was made just days before the weekend market crash. BTC trades at $27,748.30 as of the writing. It has fallen 2.5% over the last 24 hours, more that 7% over the last seven days and nearly 26% over the year.

Devere Group Predicts a Bull Run and ‘Significant Bounce’ for Bitcoin in Q4