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Yet Another $50,000 Prediction for Bitcoin – Abra CEO

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After the prediction about Bitcoin reaching the $50k mark when 2019 starts by crypto hedge fund manager known as Spook, another prediction about Bitcoin hitting that figure has come forth.. The Chief Executive Officer of the cryptocurrency services app Abra, Bill Barhydt, has said that the market could very well see Bitcoin test the $50,000 price over the long term.
The news came in as Inverse, an American tech news source, reported the CEO of Abra saying that Bitcoin will see the value of $50,000 over the long term. Now unlike most of the other predictions that have been coming forth about the price of Bitcoin and where it will be, the CEO of Abra has not specified a timeframe. Barhydt’s lack of including a timeframe in his prediction makes the expert’s opinion a little less feasible for a lot of people relying on the words of the expert but nonetheless he did add more to his words. The Abra CEO made note of the fact that the rationale while investing back in the December of 2017 was a tad bit ambitious. That means that everybody who had a stake in the world of cryptocurrencies and Bitcoin got ahead of themselves and that managed to bring about the decline we are seeing right now.
Of course, being the expert that he is, Barhydt did not make these predictions without giving any value to them. Abra has become one of the leading cryptocurrency based services for mobile devices. The cryptocurrency services firm is hoping that a more mobile friendly approach to their services is going to help increase the adoption of their firm. Other than the fact that they have prioritized mobile first initiatives, they offer easy to use cryptocurrency to cryptocurrency trading as well as fiat to fiat along with fiat to crypto and vice versa. Using the prospect of smart contracts hosted by the distributed ledger technology, they can make this possible with comparative ease through the platform they provide.
This was not the first and certainly not the last time that a prediction about the world’s largest cryptocurrency. The CEO of BitMEX, Arthur Hayes claimed that Bitcoin will hit the fabled $50,000 mark by the year’s end. While a lot of people are skeptical about predictions like Hayes’ there are more believable predictions being made about the valuation of Bitcoin by year’s end. The head researcher at Fundstrat Global Advisors, Tom Lee, has said that Bitcoin might very well surpass its all time high and possibly even hit $25,000 by the end of the year.
While it is not very clear that all these predictions about the price of Bitcoin will come to pass, it is a certain fact that things will become more interesting considering the historic patterns of the highly volatile cryptocurrency.