CEO of the Abra startup Bill Barhydt expects that the bitcoin rate will rise to $50,000. This is reported by the American technology news portal Inverse.
Unlike other experts who have made similar predictions, Barhydt does not specify a time frame, thus increasing the chances of his prediction of success. Barhydt notes that those who invested in bitcoin last December were probably too ambitious, adding: “We are ahead of ourselves.”
Abra is gaining popularity as a mobile tool for investing in cryptocurrencies. The company expects to contribute to the distribution of cryptocurrency, offering a simple and affordable service for exchange in pairs “Fiat-Fiat”, “Fiat-Cryptocurrency”, “Cryptocurrency-Cryptocurrency”. Currently Abra supports 25 digital and 50 digital currencies.
Recently, the service allowed its users to use debit and credit cards Visa and MasterCard to buy bitcoin. The new system supports transactions ranging in size from $50 to $20,000.
“The growth of Abra in 2018 surpassed the performance of previous years,” said Barhydt, adding that his company serves the markets of 75 countries, and the volume of transactions with critical assets in its application for this year is measured in hundreds of millions of dollars.
But Barhydt is not the only expert who expects bitcoin to rise to $50,000. BitMEX CEO Arthur Hayes in the beginning of June on CNBC’s air jokingly said that bitcoin could reach this mark by the end of the year.
Recently, he confirmed his forecast.
“Something that rises to $20,000 for a year may experience a correction that lowers the price to $6,000,” he said. “We need only one positive regulatory decision, such as the approval of the ETF, to rise above $20,000 or even up to $50,000 by the end of the year.”
At the same time, the expectations of Barhydt and Hayes far exceed the forecasts of other analysts. So, Tom Lee claims that by the end of this year bitcoin will cost $22,000- $25,000, reinforcing his view that the price of cryptocurrency follows the steadily growing cost of its extraction.