{"id":371113,"date":"2019-02-11T20:00:47","date_gmt":"2019-02-11T20:00:47","guid":{"rendered":"https:\/\/ktsl888.com\/?p=371113"},"modified":"2019-03-11T20:35:44","modified_gmt":"2019-03-11T20:35:44","slug":"devere-ceo-bitcoin-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/devere-ceo-bitcoin-rally\/","title":{"rendered":"deVere CEO: ETF, Lightning, and Halving Drive Recent Bitcoin Rally"},"content":{"rendered":"

After taking a brutal beating throughout much of 2019 thus far, Bitcoin made its largest green one-day candle of the year this past week, providing the market with a much needed relief rally.\u00a0 <\/span>Bitcoin\u2019s price rose on Friday over $350<\/a> before bouncing off overhead resistance in the cryptocurrency\u2019s current trading range.<\/span><\/p>\n

CEO of independent financial consultancy firm deVere Group Nigel Green says that the move might be the start of a \u201cconsiderable Bitcoin surge\u201d stemming from one of three main factors behind this recent rally, but that it is still too soon for investors to begin celebrating.<\/span><\/p>\n

deVere CEO: History Shows Halving Causes \u201cConsiderable Bitcoin Surge\u201d<\/span><\/h2>\n

Following the break of support at $6,000, the crypto market has been deeply entrenched in despair as Bitcoin<\/a> and other leading cryptocurrencies struggle to find their price bottom. Investors have been burned, and the strain on the industry has caused many companies to begin laying off employees as interest and capital flees the market.<\/span><\/p>\n

Related Reading | Crypto Analyst Expects Strong BTC Bounce, MACD Signals Bottom<\/a><\/strong><\/em><\/p>\n

However, Bitcoin\u2019s price woes may be coming to an end, and if history repeats itself, it could lead to a \u201cconsiderable Bitcoin surge,\u201d according to deVere Group CEO Nigel Green<\/span><\/a>.<\/span><\/p>\n

Green points to the upcoming \u201chalving\u201d in 2020 \u2013 an event that reduces the block reward miners receive for validating transactions by 50% \u2013 as a potential catalyst that ends the current crypto bear market.<\/span><\/p>\n

\u201cThe code for mining Bitcoin halves around every four years and the next one is set for May 2020. When the code halves, miners receive 50 per cent fewer coins every few minutes.\u00a0 History shows that there is typically a considerable Bitcoin surge resulting from halving events,\u201d Green explained.<\/span><\/p>\n

Litecoin<\/a>\u2019s halving is due this year, and was the first altcoin to break key resistance and helped to lead the crypto market rally<\/a> that brought Bitcoin a 10% gain this past Friday, lending credence to Green\u2019s claims. Green, however, says there are two other factors behind Bitcoin\u2019s recent rally.<\/span><\/p>\n

\"\"<\/p>\n

ETF and Lightning Two Other Key Factors Behind Recent Spike<\/span><\/h2>\n

Green also believes that a recent comments made by SEC commissioner Robert J. Jackson Jr. in which he states a Bitcoin ETF will \u201ceventually\u201d be approved may have given investors renewed confidence in the number 1 crypto by market cap.<\/span><\/p>\n

Additionally, Green calls attention to recent developments in the second-layer protocol Lighting Network<\/a>, which he says will \u201cdramatically improve Bitcoin\u2019s well-documented scalability issues, allowing it to move towards mass adoption.\u201d Lightning Network, along with a potential ETF approval and the upcoming halving event are the \u201cthree key drivers\u201d behind Bitcoin\u2019s recent rebound, according to deVere.<\/span><\/p>\n

Related Reading |\u00a0SEC Commissioner Asks Gov\u2019t to Amend Regulation For Crypto ETF, ICOs<\/a><\/strong><\/em><\/p>\n

But before investors begin to celebrate the end of the bear market, Green warns that the price was only able to reach the top of the trading range, and that \u201cinvestors should not be popping champagne corks just yet.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

After taking a brutal beating throughout much of 2019 thus far, Bitcoin made its largest green one-day candle of the year this past week, providing the market with a much needed relief rally.\u00a0 Bitcoin\u2019s price rose on Friday over $350 before bouncing off overhead resistance in the cryptocurrency\u2019s current trading range. CEO of independent financial consultancy firm deVere Group Nigel Green says that the move might be the start of a \u201cconsiderable Bitcoin surge\u201d stemming from one of three main factors behind this recent rally, but that it is still too soon for investors to begin celebrating. deVere CEO: History Shows Halving Causes \u201cConsiderable Bitcoin Surge\u201d Following the break of support at $6,000, the crypto market has been deeply entrenched in despair as Bitcoin and other leading cryptocurrencies struggle to find their price bottom. Investors have been burned, and the strain on the industry has caused many companies to begin laying off employees as interest and capital flees the market. Related Reading | Crypto Analyst Expects Strong BTC Bounce, MACD Signals Bottom However, Bitcoin\u2019s price woes may be coming to an end, and if history repeats itself, it could lead to a \u201cconsiderable Bitcoin surge,\u201d according to deVere Group CEO Nigel Green. Green points to the upcoming \u201chalving\u201d in 2020 \u2013 an event that reduces the block reward miners receive for validating transactions by 50% \u2013 as a potential catalyst that ends the current crypto bear market. \u201cThe code for mining Bitcoin halves around every four years and the next one is set for May 2020. When the code halves, miners receive 50 per cent fewer coins every few minutes.\u00a0 History shows that there is typically a considerable Bitcoin surge resulting from halving events,\u201d Green explained. Litecoin\u2019s halving is due this year, and was the first altcoin to break key resistance and helped to lead the crypto market rally that brought Bitcoin a 10% gain this past Friday, lending credence to Green\u2019s claims. Green, however, says there are two other factors behind Bitcoin\u2019s recent rally. ETF and Lightning Two Other Key Factors Behind Recent Spike Green also believes that a recent comments made by SEC commissioner Robert J. Jackson Jr. in which he states a Bitcoin ETF will \u201ceventually\u201d be approved may have given investors renewed confidence in the number 1 crypto by market cap. Additionally, Green calls attention to recent developments in the second-layer protocol Lighting Network, which he says will \u201cdramatically improve Bitcoin\u2019s well-documented scalability issues, allowing it to move towards mass adoption.\u201d Lightning Network, along with a potential ETF approval and the upcoming halving event are the \u201cthree key drivers\u201d behind Bitcoin\u2019s recent rebound, according to deVere. Related Reading |\u00a0SEC Commissioner Asks Gov\u2019t to Amend Regulation For Crypto ETF, ICOs But before investors begin to celebrate the end of the bear market, Green warns that the price was only able to reach the top of the trading range, and that \u201cinvestors should not be popping champagne corks just yet.\u201d<\/p>\n","protected":false},"author":517,"featured_media":371119,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,532,16670,14697,8080,8103,14698],"class_list":["post-371113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-etf","tag-devere","tag-devere-group","tag-halving","tag-lightning-network","tag-nigel-green"],"acf":[],"yoast_head":"\ndeVere CEO: ETF, Lightning, and Halving Drive Recent Bitcoin 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"deVere CEO: ETF, Lightning, and Halving Drive Recent Bitcoin Rally","url":"http:\/\/ktsl888.com\/news\/devere-ceo-bitcoin-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/devere-ceo-bitcoin-rally\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/02\/bitcoin-devere-ceo-nigel-green-shutterstock_1050057539.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/02\/bitcoin-devere-ceo-nigel-green-shutterstock_1050057539.jpg?fit=1000%2C668"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etf","devere","devere group","halving","lightning network","nigel green"],"dateCreated":"2019-02-11T20:00:47Z","datePublished":"2019-02-11T20:00:47Z","dateModified":"2019-03-11T20:35:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"deVere CEO: ETF, Lightning, and Halving Drive Recent Bitcoin Rally\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/devere-ceo-bitcoin-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/devere-ceo-bitcoin-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/bitcoin-devere-ceo-nigel-green-shutterstock_1050057539.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/bitcoin-devere-ceo-nigel-green-shutterstock_1050057539.jpg?fit=1000%2C668\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etf\",\"devere\",\"devere group\",\"halving\",\"lightning network\",\"nigel green\"],\"dateCreated\":\"2019-02-11T20:00:47Z\",\"datePublished\":\"2019-02-11T20:00:47Z\",\"dateModified\":\"2019-03-11T20:35:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/02\/bitcoin-devere-ceo-nigel-green-shutterstock_1050057539.jpg?fit=1000%2C668","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/371113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=371113"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/371113\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/371119"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=371113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=371113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=371113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}