Bitcoin Pullback Feels Like 2017: Abra CEO Predicts What’s Coming
The Bitcoin market has been shaken by a substantial correction, dipping to a low of $76,589 before regaining ground above $80,000 at press time. Even with the recovery, the price remains down 27% from the all-time high of $109,900 reached on January 20. Several high-profile crypto experts have shared their perspectives on the sudden downturn, […]
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Abra’s CEO has predicted that the price of ether could reach $40,000. He’s more bullish on Ethereum than Bitcoin. “The use cases are through the roof,” said the executive.
Abra’s CEO Predicts Ethereum Price
The CEO of crypto trading platform Abra, Bill Barhydt, shared his thoughts on why he is more bullish about Ethereum than Bitcoin in an interview with CNBC Friday. He also predicts that the price of ether (ETH) could reach $40,000, a significant increase from the cryptocurrency’s current price.
Barhydt explained,....
Bill Barhydt, serial entrepreneur and former Netscape director, debuted his first Bitcoin startup, Abra, on Wednesday, March 4. The announcement came on the last day of the Launch Festival, an annual conference known for premiering new and innovative startups. In his speech, Barhydt explained that Abra was created to help migrant workers in various countries send money to their loved ones back home. “Our mission with Abra is to turn every smartphone into a teller that processes withdrawals. This is not just another bitcoin app. The wallet is a full-fledged digital asset management system,....
The Abra team has a plan to expand the availability of their mobile apps to different countries in the coming months. Abra is a Bitcoin remittance application a lot of people seem to have high hopes for. Ever since the company raised money to bring their project to the masses, things had gone quiet. But it appears the Abra app has now launched for both iPhone and Android, albeit it is still limited to the US and the Philippines only. Remittance solutions are always in high demand, especially when the Filipino community is involved. A lot of Filipinos work overseas and send money back home....
Bitcoin remittance app Abra recently confirmed raising $12 million in a new venture financing round. The Series A round drew support from noted investors like Arbor Ventures, RRE Ventures and First Round Capital. Other investors that took part in the funding are Blockchain Capital, Digital Currency Group, Liberty City Ventures, etc. The total valuation of Abra, upon receiving the new funds, has now reached $14 million. Announced in March this year, Abra is a brainchild of a seasoned technology entrepreneur Bill Barhydt. The former Netscape director said during the launch that he is looking....
The price of Bitcoin rose to $20,000 in 2017 and crashed. According to Glassnode, the same top signal has emerged, but feels different this time for several reasons. In 2017, the price of Bitcoin (BTC) reached as high as $20,000 before crashing rapidly. Now, the same on-chain top signal has reemerged, according to researchers at Glassnode. But besides much stronger fundamentals this time around, the ongoing rally feels significantly different for other reasons.Bitcoin typically pulls back when whales take profit, causing a ripple effect throughout the cryptocurrency market. As such, when....