deVere investors earn profit from a beleaguered Bitcoin
Bitcoin, the world’s largest cryptocurrency, has been take a battering in recent days, falling 12 per cent on Wednesday.
As history teaches us, this is likely only to be a temporary dip and prices can be expected to rebound relatively quickly. Indeed, many experts are forecasting a major price surge before the end of the year, not dissimilar to last year’s rally in which Bitcoin peaked at $19,000 in mid-December.
But back to now, and, as I said, the dominant digital currencies has made losses this week, dragging on the wider crypto sector, and this caught out many investors.
However – and here’s the good news – clients of the deVere Digital Assets solution have actually generated profit from the volatility.
As I told the media this afternoon: “Those invested in our actively managed cryptocurrency proposition, which uses a pioneering algorithmic system, will have been shielded against this turbulence, and have actually generated profit from the short signals generated by the system, thereby proving its effectiveness and inherent value to those who seek the upsides of exposure to the digital assets sector but with reduced volatility.”
How does it work? When the price of one cryptocurrency is higher on one platform than on another, a trade, known as arbitrage, is carried out and profit created.
As I mentioned the other day, Bitcoin’s influence and dominance of the cryptocurrency sector is, in my opinion, likely to significantly decline as it moves into its second decade.
But that said cryptocurrencies are now being widely accepted as the future of money. They are the bedrock of the digital global economy and, as such, I am confident the sector will increase 5,000% over the next 10 years.