The general director of the investment app Abra said in a media interview with Business Insider on March 28 that chaos would erupt in the crypto-currency market this year.
Two weeks after the announcement that since October the start-up has attracted $ 40 million of investment, CEO Bill Barhidt predicts the intervention of Western institutional investors in crypto-currency assets in 2018.
At the same time, Barhidt agrees with the popular opinion today that due to their arrival, the price for Bitcoin will skyrocket.
Bitcoin continues its decline and at the time of writing the article is trading at around $ 7,542.32 (according to CoinMarketCap). Ethereum, which lost 52% of its value for the month, seems to soon drop to $ 400.
"I communicate with representatives of hedge funds, people who own big money, and even with commodity speculators. They note the volatility in the crypto-currency markets, and see in it huge opportunities, "says Barhild.
As soon as they enter the market, chaos will begin. It is worthwhile once to open the floodgates.
Analysts of the crypto-currency industry recently predicted short-term growth prospects for Bitcoin.
A well-known trader and analyst Ton Weiss warned during the recent highs that until the resistance at 12 000 dollars is overcome, prices may fall below current levels.
Nevertheless, for Barhidt, the future potential of Bitcoin is greater than the short-term volatility between $ 6,000 and $ 12,000.
In fact, at the moment, the crypt is close to zero large-scale institutional funding from the West. It occurs in Japan. We are getting closer and closer to understanding that everything is in order, investing half of our assets in crypto-currencies. Serious Western institutional money will soon begin to pour in.
According to Bill Barhidt, Western institutional investors have waited too long for the opportunity to enter the market. And when this happens, you should be prepared for new skyrocketing prices for crypto-currencies.
The businessman also spoke about the growing interest in crypto-currencies on the part of the authorities - in his opinion, the correct regulation will only help attract investors.