DeVere Group CEO Brands Crypto Market Correction a Knee-Jerk Sell-Off, Predicts Bitcoin Will ‘Robustly Rebound’

DeVere Group CEO Brands Crypto Market Correction a Knee-Jerk Sell-Off, Predicts Bitcoin Will ‘Robustly Rebound’


A financial institution with over $10 billion in assets under management is confident that cryptocurrencies will thrive in the long term despite weeks of volatility in the markets.

In a new report, the independent DeVere Group discusses the reasons behind the recent flash crash which sent Bitcoin (BTC) tumbling from $47,000 to below $44,000 in a matter of hours.

DeVere Group CEO Nigel Green says that concern about the US Federal Reserve’s plans to raise interest rates had an immediate negative effect across markets worldwide.

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“There’s been a knee-jerk sell-off on Wall Street and the crypto market as it is perceived by some traders that such a move puts at risk the liquidity that has benefited many asset classes, including Bitcoin.”

Green believes the current

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