Digital currencyEconomical

Bitcoin could reach $ 50,000 by the end of March

An investment expert says that despite the ongoing conflict between Russia and Ukraine, bitcoin could reach $ 50,000 by the end of March. However, he believes that at the moment it is not possible to comment on setting a new historical record.

To Report CryptoGlobe Nigel Green, CEO of deVere Investment Group, believes that the price of Bitcoin could reach $ 50,000 by the end of March, despite the war between Ukraine and Russia.

Commenting on the current acceleration of the Bitcoin price, Green said that even if the price of other risky assets, such as stocks affected by the disputes between Russia and Ukraine, were falling, the price of the digital currency would continue to rise.

Green said:

As the current situation shows, I do not find any reason to reduce the price acceleration. I think we can expect Bitcoin to reach $ 50,000 by the end of this month.

Green thinks it ‘s too early to say whether Bitcoin can relive the $ 68,000 record set in November after crossing the $ 50,000 mark. According to the analyst, the conflict between Russia and Ukraine has caused “significant financial turmoil” and government agencies, individuals and companies are looking for alternatives to the traditional financial system.

He went on to say that in Ukraine, when ATMs run out and banks close, there is a possibility that people will use their personal savings to pay for the war. Moreover, as Western governments use the SWIFT international banking system as a tool to put pressure on Russia, “the way will be opened for a growth-oriented, decentralized, borderless, counter-manipulative and non-confiscated monetary system.” He mentioned that he meant this bitcoin system.

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Green added:

The more organizational investors enter the field, the greater its credibility, the higher its trading volume, and the lower its volatility. This is all good news for ordinary investors.

In addition, Green said last year that he believes Atrium will outperform Bitcoin in “five years” because he believes Atrium is more in demand.

Mark Mobius, an experienced billionaire and co-founder of Mobius Capital Partners, recently commented on the rise in bitcoin prices amid Russia’s ongoing invasion of Ukraine, which has caused stock markets to plummet.

Mobius has said that the Russians have a “way to preserve the value of their money and wealth” by using bitcoin, and that this may be the reason for the rise in the price of this digital currency in the past few days. Sanctions imposed on Russian institutions, including Russian banks, have led to a significant devaluation of the ruble and even the Ukrainian national currency, the gruna.

Ukraine’s Kuna digital currency exchange has seen an increase in its trading volume, especially since the beginning of the Russian invasion. Previously, the average trading volume of this exchange was about 45 million gruna per day. On the day Russian troops arrived in Ukraine, however, the exchange traded at 150 million hryvnias, or about $ 5 million.

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