The cryptocurrency market and its major market players are struggling to break out of a tight consolidation zone. However, given the current state of the market, investors are left waiting for the imminent rally in the market. The crypto winter stayed in the market longer than expected and with the collapse of FTX, things got worse.
Amid all the silence, one CEO is still confident that the bear market will end in the coming months. The chief executive of financial advisory firm deVere Group, Nigel Green, backed up his support by factoring in factors such as inflation and monetary policies.
Is Bitcoin more attractive right now?
Green predicted that as soon as inflation starts to subside and central banks start to ease monetary policy, the price of Bitcoin (BTC) and other digital assets will start to rise.
“The assets that benefited the most from low interest rates were, naturally, the most affected in 2022 by the increases. These include stocks, especially in the tech sector, and cryptocurrencies, among other risky assets.
Green claimed that Bitcoin’s current price is attractive to long-term investors and that kind of confidence is returning to the markets. He also added that the currently reduced prices will be used by many long-term investors as a buying opportunity.
“One good thing about the hikes has been that as the free money rush waned, we were able to see the real value of the assets. Despite being down 70% from its November 2021 peak fueled by heat and hype, Bitcoin remains the best-performing asset class of the decade.”
Following the recent release of the FOMC minutes that were more dovish than anticipated and also revealed that the Federal Reserve may cut its interest rate hikes in the near future, Bitcoin has been blinking green for the past few days. Market analysts said that the most recent price movement offered a unique opportunity to buy with just two years until the next halving, when the king cryptocurrency will become more scarce.
This post Two things that could determine the end of the bear market
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