Bill Bargidt, CEO of crypto payment company Abra, said that a few weeks ago, just before the recent rise in the course, he managedsignificantly increase investments in bitcoin and mark 50% of your investment portfolio in cryptocurrency. In his own words, when making a decision, he was guided by fundamental and technical reasons, and also took into account the market sentiment.
“I believe that Bitcoin is now the best investment in the world, - writes Bargidt.
The first reason my bullish sentiment is increasing isthis is an old reason, 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 the 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 are not yetmanaged to enter the market massively. As an illustration, he cites a two-year graph from Google Trends, showing 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 a significant rise in the price of Bitcoin in the short term since 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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