{"id":40284,"date":"2018-03-28T23:27:43","date_gmt":"2018-03-29T06:27:43","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=40284"},"modified":"2019-11-07T02:56:16","modified_gmt":"2019-11-07T02:56:16","slug":"abra-ceo-predicts-bitcoin-will-experience-huge-surge-year","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/abra-ceo-predicts-bitcoin-will-experience-huge-surge-year\/","title":{"rendered":"Abra CEO Predicts Bitcoin Will Experience a Huge Surge This Year"},"content":{"rendered":"

Bill Barhydt, founder, and CEO of Abra<\/a>, recently expressed his support for the crypto sector and predicted that bitcoin is all set to make a \u201chuge\u201d push in the market soon.<\/p>\n

While most mainstream analysts continue to harp on about Bitcoin\u2019s so-called death cross<\/a> graph, Barhydt has strongly expressed his optimism and has said that a massive explosion in the currency\u2019s price can be expected in the coming few weeks.<\/p>\n

Talking with Business Insider UK<\/a>, he suggested that the global crypto market was on the verge of yet another significant expansion, similar to the one that took place last year, and when that happens, Barhydt expects \u201call hell to break loose.\u201d<\/h3>\n
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Abra is the only global app that allows you to buy, store, and invest in 20 cryptocurrencies in one place.<\/figcaption><\/figure>\n

In his interview, he recognized the fact that many investors have their finger on the trigger but are waiting and see who moves in first. With the crypto market as a whole being halved in its value since last Christmas to about $300 billion, Barhydt believes that this slump only acts as a further incentive for investors to put in more money.<\/p>\n

He argues that when such lulls occur, the market has \u201cspace to grow.\u201d<\/p>\n

He further added<\/a>:<\/p>\n

“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 the floodgates are opened, they're opened.”<\/p><\/blockquote>\n

Barhydt\u2019s\u2019 point of contention…<\/h2>\n
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Related Story<\/strong>:\u00a0Google Mirrors Facebook Ban on Cryptocurrency and ICO Advertisements<\/a><\/figcaption><\/figure>\n

In the face of Bitcoin\u2019s recent market ebb, the Abra top-dog remains confident that the best is yet to come. He firmly believes that once western institutional investors begin to pump in money into the crypto domain, similar to what has been happening in Japan, the current scenario will pretty much change overnight.<\/p>\n

It was also refreshing to see Barhydt disregard Google\u2019s recent \u201ccrypto trends<\/a>\u201d \u2014 since we all now know how unbiased Google has been considering its recent ICO ban<\/a>. He dismissed them by saying<\/p>\n

“institutional interest is now starting to grow regardless of the trends you see online.”<\/p><\/blockquote>\n

As per his theory, he maintains that once institutional investment starts flowing into alt-assets like Bitcoin and Ethereum, it will create a “halo effect” that will positively influence and push other digital currencies to the forefront as well.<\/p>\n

Looking Ahead<\/h2>\n

As part of his ongoing European visit, Barhydt continues to expound on the advantages of virtual currencies and the transparency they bring into everyday business transactions. He is scheduled to speak at the Zurich Crypto Summit today, and it is believed that he will talk about large-scale blockchain adoption within government and organizational frameworks.<\/p>\n

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I\u2019ll be speaking today at the Crypto Summit in Zurich. Afternoon keynote at 2:25pm CET and closing chat w @VinnyLingham<\/a> at 5:40pm CET. Livestream: https:\/\/t.co\/ZO8madhbnX<\/a><\/p>\n

— Bill Barhydt (@billbarhydt) March 28, 2018<\/a><\/p><\/blockquote>\n