At present, the financial experts have not ruled out major corrections for Bitcoin in the coming weeks. However, one mogul seems to disagree with the majority. Devere Group CEO Nigel Green recently claims that at present, the top coin is undervalued. He also made the bold claim that Bitcoin has the potential to reach $50K by the end of the ongoing month.
While the winter season is officially over, the crypto market is still not ready to move into the spring season just yet. The recent rally of Bitcoin prices is said to be artificially induced by the clash of Russia and Ukraine. However, Green claimed that the main driving force behind the massive price growth for the top coin is going to be the very event.
While Green has assumed a bullish position on Bitcoin for the short term, he is still undecided about the behavior of the token in the long run. Talking to the media, he claimed that at this point, it is premature to foresee if Bitcoin is ready to reclaim its latest ATH. Last year in November, Bitcoin was able to register a record-breaking per unit price of $69k.
He also claimed that the ongoing war between Russia and Ukraine enticed governments around the world to take a look at alternative financial channels. He also pointed out that since banks are closed during a war, the people cannot remain dependent on the centralized banking system to fulfill their financial needs.
Mark Mobius is also Bullish on Bitcoin
Mark Mobius is the CEO of Mobius Capital Partners. Speaking to CNBC, he also took the same approach towards the Bitcoin network development as the deVere CEO Nigel Green. Mobius, too agrees with the idea that the recent clash between Ukraine and Russia has proven to be a positive development for the price movement of the top coin.
At one end, cryptocurrency exchange platforms are isolating and banning Russian investors. On the other end, the trading volume at Ukrainian native crypto exchanges Kuna is exploding. Furthermore, the western bloc is sending massive financial aid to the locals in the form of Bitcoin and other cryptocurrencies that increased the trading volume substantially.