CEO Of deVere Group Projects $50K Bitcoin By The End Of March

Nigel Green the chief executive of deVere Group projects the Russia-Ukraine conflict could be the catalyst that sends Bitcoin (BTC) price rallying. He estimates BTC at $50,000 by the end of March.

Regardless of the situation in Ukraine and uncertainty across Europe, Bitcoin moved up recently. Many argue that the increase is because of the financial sanctions imposed on Russia and the following crash of the ruble.

Green believes that the Ukraine conflict has caused “significant financial upheaval,” and companies, individuals, and government agencies are now in search for alternatives to traditional monetary systems.

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

According to Green, if the West keeps imposing sanctions and penalties on Russia, BTC could hit $50K by the end of the month. But, he also thinks that beyond that – towards current all-time high – it is too early say.

In the past, the CEO of deVere Group has been quite accurate in his forecasts. Last summer, he predicted that BTC could exceed its all-time high of $65,000 by the end of 2021. He wrote back then:

“That said, I remain confident that Bitcoin will hit, or even surpass, its mid-April all-time high of $65,000 by the end of 2021.”