Abra CEO and former Goldman Sachs analyst Bill Barhydt shares his views on leading crypto Bitcoin, leading altcoin Ethreum and some altcoin projects in a recent interview.
Bill Barhydt: I think the leading altcoin is ripe for boom
Abra is a trading platform that some have labeled as ‘Crypto Robinhood’. Bill Barhydt, CEO of Abra, explains his views on Bitcoin (BTC), Ethreum (ETH) and some altcoin projects in an interview.
Bill Barhydt is very optimistic about the leading altcoin Ethereum rather than Bitcoin. Bill Barhydt says he believes the second-largest cryptocurrency by market cap could start a 10x run to reach a price level of $40,000 within a year. The famous CEO explains his views as follows:
I think Ethereum is ripe for boom. It has even shorter-term bullishness than Bitcoin. NFTs offer a lot of use in areas such as decentralized finance (DeFi) and play-to-earn.
Leading altcoin Ethereum was trading just under $3,000 at the time of writing, with 1.25% loss on a daily basis, according to CoinMarketCap data. Ethereum is currently 40% off from its all-time high of $4,900, which it saw about 5 months ago.
What is the most important thing that ensures the success of the projects?
Another Abra Capital Management fund offers investors the opportunity to buy early altcoin projects. As we mentioned in the news of Kriptokoin.com, altcoin projects such as Solana (SOL) and Polkadot (DOT) rose last year, causing the overall market share of Bitcoin to decrease. Bill Barhydt says the following about these projects:
The most important thing that ensures the success of these projects is the power of their underlying technology and networks. We’re investigating what problems the first tokens are trying to solve and how they stack up against their competitors.
Additionally, Abra’s seed fund invests in early-stage crypto startups. “One of the biggest opportunities we have is that we see projects very, very early on,” said the famous CEO, saying it makes sense to take positions at some companies that are really excited and it’s all about being good guardians of the field.
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