Cryptocurrency investment app Abra’s CEO forecast that “all hell will break loose” in Bitcoin and altcoin markets this year in a fresh mainstream media interview March 28. Speaking to Business Insider two weeks after the startup announced it had raised $40mln in new funding since October, CEO Bill Barhydt said western institutional money would begin to “dip its toes” into crypto assets in 2018.
In doing so, Barhydt continues a popular narrative that institutional investors ‘waiting’ for an opportune moment will transform Bitcoin and major altcoin price performance. Bitcoin continued to sink towards fresh bi-weekly lows March 29, circling around $7600 according to Cointelegraph’s price tracker. Ethereum, which has lost 52% of its value in a month, is set to challenge $400 a coin.
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