Investors 'generate profit' despite plummeting Bitcoin
A trailblazing cryptocurrency solution claims it helped investors generate profit despite the plummeting value of Bitcoin in the last 24 hours.
Bitcoin fell almost 14 per cent from a high of $6,371 on Wednesday to a low of $5,495 on Thursday.
Independent financial advisory organisation deVere Group launched a suite of digital currency solutions for experienced investors in association with Dalma Capital Management Limited.
It took short positions on Bitcoin at $6,300 and Ethereum at $205 before the price plummeted below $5,600 and $180, respectively, for the first time in 2018.
Nigel Green, deVere Group's founder and CEO, said: "The sudden drop in the value of Bitcoin will have caught many investors off guard – even though history teaches us that this is likely to be temporary, with prices rebounding again fairly quickly.
"However, 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."
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Speaking earlier this month at the launch of the deVere Digital Asset solution, which is to be showcased at the Alternative Investment Management (AIM) Summit taking place in Dubai on 26-27 November at the Ritz Carlton hotel, Green explained how it works for the benefit of investors.
"When the price of one asset, for instance Bitcoin or Ethereum, is greater on one platform than on another, the opportunity is identified to generate profit from the difference of price across platforms," he said.
“These trades, referred to as arbitrage, allow profits to be generated with little or no directional market risk.”
He added: “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 per cent in the next decade.
“However, as this current Bitcoin sell-off demonstrates, the market remains volatile, but the use of ground-breaking technology can reduce investor exposure to the turbulence.”
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