Fear Of Missing Out will drive the price of Bitcoin and other cryptocurrencies higher before the end of the year, according to the CEO of one of the world’s largest independent financial advisory organisations.
Nigel Green, founder and chief executive of a prominent financial advisory group, expressed his expectation that the world’s top digital currencies are on the verge of a “true global breakout.” He attributes this largely to FOMO – the Fear Of Missing Out. Green, who recently predicted that Ripple will hit the key $1 threshold this year, stated, “Bitcoin and other cryptocurrencies are, I believe, on the verge of a true global breakout. This is largely due to FOMO – the Fear Of Missing Out.”
Green further elaborated on the growing adoption of cryptocurrencies across various sectors. He noted that this is evident not only in the financial sector, where major banks are increasingly exploring blockchain and crypto, but also within the tech and retail sectors. According to Green, there is a growing sense among institutions that unless they embrace this sector, their competitors could pull ahead, making it challenging to catch up. He highlighted that the public, their customers, are also becoming more eager to explore these opportunities.
Green tempered his optimism with a note of caution, stating, “I’m not sure we’ll see the stratospheric rise in cryptocurrency prices that we experienced at the end of 2017. However, with growing acceptance that they are indeed the future of money, I believe that the environment is now right for an upswing before year-end.”
Green’s comments come ahead of his address this week at a notable blockchain and digital event. He expressed honour at being part of the line-up, which includes the Prime Minister of Malta, Joseph Muscat, a prominent advocate of cryptocurrencies, and other influential figures from the fintech, blockchain, cryptocurrencies, and digital sectors. Green praised the progressive and forward-thinking approach of the Maltese government regarding blockchain and digital currency regulation and legislation, positioning Malta as a global leader in these markets. He echoed the sentiment of Prime Minister Muscat, who recently described cryptocurrencies as the “inevitable future of money” at the UN General Assembly. Green anticipates that the upcoming event will celebrate Malta’s pioneering role in this sector.
The insights provided by Nigel Green underscore the growing significance of cryptocurrencies on a global scale. With increasing institutional and public interest, and progressive regulatory environments like Malta’s, the stage appears set for significant developments in the cryptocurrency market.