CEO of deVere predicts BTC growth to $60,000 by the end of March 2024

The total market capitalization of the digital currency industry in 2023 was 109%. According to Binance analysts, last year was a “significant turnaround” for the crypto sphere.

In the first and fourth quarters, the digital asset market showed significant growth. At the end of 2023, optimism among members of the crypto community was largely due to the expectation of approval of the BTC-ETF by the American regulator.

In addition, analysts included stable growth in global GDP and a decrease in inflation rates as factors favorable for the crypto market. This became a prerequisite for increasing investor interest in high-risk assets.

According to BTC Map data, the number of retail outlets that accept payments in Bitcoin has grown by almost 175% in 2023. The number of such organizations increased from 2288 to 6329.

A significant concentration of points working with BTC is located in Central and South America. In Asia and Africa there are significantly fewer such shops and cafes. In the USA and Europe there are also a large number of points accepting the main cryptocurrency.

deVere Group CEO Nigel Green predicts an increase in the value of Bitcoin amid the recent approval of BTC spot ETFs. In his opinion, the main digital coin will rise in price to $60,000 by the end of March 2023.

The SEC recently approved all applications to launch spot BTC-ETFs. Nigel Green believes that this initiative was “a landmark moment for Bitcoin and the entire cryptocurrency market.”

The expert is confident that this will boost the prices of cryptocurrencies in the long term.

He believes that one of the key reasons for the growth of the BTC rate will be the large-scale influx of capital that should be expected after the approval of the ETF.

“On a tidal wave of investor enthusiasm, we wouldn’t be surprised if Bitcoin hits $60 000 this quarter — and higher moving forward throughout the year,” the head of deVere emphasized.

Do you agree with him?