-FOR IMMEDIATE RELEASE-
January 5 2019
Institutional investors – excited by greater regulatory clarity - are going to drive “considerable expansion” of the cryptocurrency market in 2019.
This is the bold forecast by the CEO of one of the world’s largest independent financial advisory organizations.
Nigel Green, founder and chief executive of deVere Group, which launched deVere Crypto, the world’s fastest crypto trading app 12 months ago, is speaking as the post-holiday crypto rally continues.
Over the last 48 hours, the three biggest digital currencies Bitcoin, Ethereum and XRP have climbed 4 per cent, 12 per cent, and 3 per cent, respectively.
Mr Green comments: “The bearish sentiment of the last quarter of 2018 is now, I believe, behind us.
“We can expect the current upswing to continue, albeit with peaks and troughs as in any financial market.”
He continues: “In 2019, the cryptocurrency market is set to radically evolve. We can expect considerable expansion of the sector largely due to inflows of institutional investors.
“Major corporations, financial institutions, governments and their agencies, prestigious universities, and household-name investing legends are all going to bring their institutional capital and institutional expertise to the crypto market.
“The direction of travel has already been on this path, but there is a growing sense that institutional investors are preparing to move off the sidelines in 2019.”
Mr. Green goes on to add: “The acceleration of institutional investment is likely to be driven by greater regulatory clarity.