Bitcoin Race To $50k Is Imminent, Analyst Says

There are all kinds of optimistic predictions about the price of BTC these days despite the massive volatility that’s caused by the geopolitical situation. Here are the latest reports about the price of the king coin.

It’s been just revealed that the financial advisory firm deVere Group CEO Nigel Green says the leading crypto asset Bitcoin (BTC) will likely surge to $50,000 in the near-term.

In a new company blog post, he explained the fact that the king coin is likely to hit $50,000 in March due to escalating geopolitical tensions and growing interest from blue-chip investors.

“As it currently stands, I can see no reason why this price momentum should falter. I think we can expect to see Bitcoin hit $50,000 by the end of this month. It’s still too early to tell whether it will then go on to reach the all-time highs of $68,000 from November 2021.”

He also said that BTC will rise to $50,000 and it’s also important to note the fact that this will happen due to the ongoing Russian-Ukrainian war in Eastern Europe has caused financial institutions to shut down or delay their operations.

“The Ukraine-Russia situation has caused significant financial upheaval and individuals, businesses and indeed government agencies – not just in the region but globally – are looking for alternatives to traditional systems.”

He also stated this:

“As banks close, ATMs run out of money, threats of personal savings being taken to pay for war, and the major international payments system SWIFT is weaponized, amongst other factors, the case for a viable, decentralized, borderless, tamper-proof, un-confiscatable monetary system has been laid bare.”

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $39,056.

In other recent news, just the other day, we were revealing that Bitcoin was able to make a spectacular price bounce, and more investors are wondering what the specific trigger is. Check out the latest reports which are trying to shed some light on this issue.