Abra CEO: Bitcoin To Experience A Bullish Trend Soon

Casper Brown
March 31, 2018 Updated May 15, 2024
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Recently, the Abra CEO and founder, Bill Barhydt expressed his support for the bitcoin and crypto market. He predicts that entry of institutional investors into this sector will bring a bullish trend in the market soon.

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Abra CEO, Bill Barhydt on bitcoin boom: “All hell will break loose”

With the prices of bitcoin going haywire, on one side the financial analysts are talking about this price dip leading to bitcoin death, whereas Bill Barhydt, the CEO of Abra, on the other hand, believes the popular cryptocurrency bitcoin price will soon experience the same bullish trend as of December, last year. According to him, a rally is just around the corner as the bearish trend gets broken.

Barhydt’s believes this huge push will come due to the very reason that the billion-dollar institutional and hedge funds investors’ haven’t stepped into the market yet. These investors have come to the conclusion that this asset is worth investing their time and money but have yet to enter the crypto market as illustrated by him:

“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. Once the floodgates are opened, they’re opened.”

Last year in December, before Christmas, the crypto market exploded in price and popularity with its market size going to $800 billion at its peak that has now declined to a $300 million. Right now, the market is falling heavily with Bitcoin at $7,000, Ethereum at $403, Ripple at $0.5 and Litecoin at $120.

Also, read: What’s Going In Japan Cryptocurrency Market & Why It Is Not Good?

Institutional investors to bring positive influence in crypto market

These institutional investors might not be able to reshape the market but it would surely instil a confidence in the minds of cryptocurrency investors and observers.

He further disregarded the recent ban on cryptocurrency ads by pointing out: “institutional interest is now starting to grow regardless of the trends you see online.”

Barhydt says these investors have already started to kick in, in Japan. This he believes is a strong indicator that similar instance is going to take place in the West. Investors are all ready; they are simply waiting to see who is going to make the first move.

Furthermore, Barhydt thinks this slump in the crypto market only acts as an incentive for the investors to put in more of their money. He firmly believes that once western institutional investors start pumping money into the crypto market, the whole scenario will change and change fast.

“There really is zero large-scale institutional money from the west in crypto right now. That is happening in Japan. Once a large sizable chunk of Western institutional money starts to come in – watch out.”

According to Barhydt, the flow of these institutional investments will bring the altcoins like ethereum into the forefront that will also experience a positive influence.

The Abra CEO continues to present the world the advantages of digital currencies and will be speaking at the Zurich summit regarding Blockchain adoption. Now, if we go by Bill Barhydt’s words, we’ll be seeing a massive explosion in crypto prices in coming weeks.

What do you think of Barhydt’s prediction of an incoming bullish bitcoin trend in the crypto market? Share your thoughts with us!

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.