Bill Bargidt, CEO of crypto payment company Abra, said that a few weeks ago, just before the recent rally, he managed to significantly increase his investments in bitcoin and mark 50% of his investment portfolio in cryptocurrency. In his own words, when making a decision it was guided by fundamental and technical reasons, and also took into account the market sentiment.
CEO Abra explains why he moved 50% of his investment portfolio to bitcoin
“I believe bitcoin is the best investment in the world right now,” writes Bargidt. The first reason for my bullish sentiment is the old reason, the fundamental characteristics of Bitcoin. Limited emission of 21 million coins, high decentralization, infinite ratio of existing coins to new ones, forthcoming improvements in privacy “.
Speaking of technical reasons, Bargidt laid out a logarithmic regression graph according to which bitcoin rate is heading towards $ 1 million. “The current rise in the rate after the halving seems to reflect the previous one. This is a bullish factor in the short and long term. The story leaves great clues, ”he added.
CEO Abra also notes that investors have not yet massively entered the market. As an illustration, he cites a graph from Google Trends for two years, indicating that interest in Bitcoin remains low. This is another bullish factor, according to Bargidt..
Two weeks ago, CEO Abra said he was “not as enthusiastic about the potential for significant growth bitcoin prices in the short term from 2015 “.
“Bitcoin has a psychological impulse. It is held by a relatively small number of wealthy early adopters. Even a modest increase in the holder base will cause a significant increase in the rate. The network effect from the rise to $ 25,000 is likely to cause the rise to $ 50,000 and above, “he wrote..
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