The CEO of the Abra cryptocurrency services app recently stated that the market could see Bitcoin test $50,000 over the “long-term.”
Abra CEO: “Long-Term I See Bitcoin At Over $50,000”
Inverse, an American technology news source, recently reported that the Bill Barhydt, the CEO of Abra, is yet another expert to make a Bitcoin price prediction, this time at $50,000.
However, in stark contrast to other price predictions, Barhydt didn’t specify a time frame, making his expectation of a $50,000 Bitcoin more feasible. Unlike other bullish figures, Barhydt noted that the investing rationale seen in December was rather ambitious, stating that prices indicated that “we got way ahead of ourselves.”
These predictions and opinions do not come without value, as Abra has quickly become a leading service for mobile-centric cryptocurrency investors. The crypto services firm hopes to help adoption rates, by offering an easy-to-use and accessible service for fiat to fiat, fiat to crypto, and crypto to crypto trades. Although these trading features may sound like nothing impressive, Abra now supports 25 cryptocurrencies and 50 fiat currencies, using smart contracts to offer trades between supported currencies.
In recent news, Abra has added a new feature that allows users to directly purchase Bitcoin through Visa or Master debit or credit purchases. This new system can facilitate transaction values ranging from $50 to $20,000, and from anywhere in the world at that.
It has quickly become apparent the unique features which Abra offers has become a main selling point for the app. Barhydt told Inverse that “Abra’s growth in 2018 has been massive over last year,” adding that Abra’s reach now extends to 75 countries, with its expansive customer base conducting “hundreds of millions of dollars worth of cryptocurrency exchanges this year.”
$50,000, A Contested Level For Bitcoin
This was not the first time that a cryptocurrency analyst, figure or expert has claimed that Bitcoin will reach $50,000. Arthur Hayes, the CEO of the BitMEX exchange, made an appearance on CNBC in early June and was questioned