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I’m most bullish on Bitcoin price since 2015, says Abra CEO

The co-founder and CEO of one of the best-known Bitcoin (

Bitcoin price stars align

Away from price, Barhydt noted inflows from the stablecoin Tether (USDT), now with a market cap of $15 billion. 

The support of major companies and even recent endorsement from Chinese state media further buoyed his mood. As Cointelegraph reported, various publications last month described cryptocurrency as 2020’s best-performing investment.

Concluding, he said that conditions were more skewed to the upside now than at any time since the days long before the 2017 bull run.

A later tweet added a caveat that BTC/USD could still drop to $5,000 and never reach $100,000.

Price expectations remain subdued this month thanks to Bitcoin’s continued correlation to macro markets, notably indices such as the S&P 500 and gold. 

United States President Donald Trump’s recent brush with coronavirus served to underscore the relationship, with BTC/USD dropping from just under $11,000 to lows of $10,390. At publishing time, the pair is trading at $10,600.


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