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$ 10,000 – the new “normal” bottom of Bitcoin

UNITED STATES, WASHINGTON (OBSERVATORY) — According to the founder and CEO of the consulting company deVere Group, Nigel Green, the mark of $ 10,000 can now be considered the official bottom for the price of bitcoin, according to the business publication London Loves Business.

“Looking at the bitcoin charts this year, I believe that the new normal bottom of bitcoin is $ 10,000. The rebound is from this level. Bitcoin fell a little lower, but rose again. We saw this on Monday when bitcoin rose to $ 10,500 in just a few minutes,” said Nigel Green.

Earlier in August, the head of deVere Group also said that in the foreseeable future, the price of the first cryptocurrency could rise to $ 15,000, for four reasons.

First, according to Green, geopolitical issues, such as the U.S.-China trade war and Brexit, are becoming increasingly relevant, forcing investors to turn to decentralized digital currencies to protect their savings during panic in traditional financial markets.

He also notes that the price of bitcoin is positively affected by technical improvements and an increasing hash of the network, which provides the first cryptocurrency with a high level of protection.

The third factor is the upcoming halving in 2020, which, Green is convinced, will also push the price up, and finally, what can be considered the most important, the constantly growing level of public awareness about cryptocurrencies.

“There is growing recognition in the world that cryptocurrencies such as bitcoin are not only the future of money, but more and more money today. This will be reflected in the new normal minimum bitcoin price of $ 10,000,” added Nigel Green.

In November last year, in the midst of the so-called “cryptozymes,” the head of the deVere Group said that in the next 10 years, the cryptocurrency market capitalization would increase by 5000% and reach $ 20 trillion, but bitcoin would give way to other coins.

At the time of publication, the weighted average bitcoin exchange rate, according to CoinMarketCap, was $ 10,180. Earlier in the day, the cryptocurrency rate fell close to $ 10,000.

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