Can Bitcoin hit $ 50,000 this year? While most of the cryptocurrencies are much below their earlier highs but there are newer and newer predictions coming up for cryptocurrencies. One such prediction is that Bitcoin price can rise to as high as $ 50,000 in the calendar year 2018.
Speaking with Inverse about the new features in its smartphone wallet app, out Thursday, Abra CEO Bill Barhydt is predicting that the market will eventually move out of its dip and in the long term will hit $50,000.
Barhydt said,
“We got way ahead of ourselves in December in terms of crypto pricing. Long term I see Bitcoin at over $50,000 but it’s not realistic to expect it to happen overnight.”
Also Read:- Bitcoin Price Predictions By Various Bitcoin Experts For The Year 2018 And Ahead
Abra’s smartphone app provides several features such as the ability to buy bitcoin using a payment card from anywhere in the world. The feature is the latest development in terms of making cryptocurrency easier to purchase.
Purchases take between 20 and 30 minutes to show on a user’s account, depending on processing times. Buyers can choose to send their bitcoin to a supported wallet or an Abra wallet. Before, users had to add bitcoin to Abra either through transferring from another wallet, or making a wire transfer to pay via the app.
Due to the built of the easy-to-use user interfaces, people can heavily adopt the services at Abra. The app unveiled support for a total of 25 cryptocurrencies in May, enabling users to trade between these coins and 50 fiat currencies almost instantly.
In addition, Abra also uses a combination of smart contracts to offer price-stabilized crypto coins, similar to how a gold exchange-traded fund is based off the United States dollar. In April, Barhydt said that the system could expand to other asset classes like stocks and commodities, with the potential to one day become a complete crypto smart bank.
Barhydt commenting on Abra’s growth and network said,
“Abra’s growth in 2018 has been massive over last year. We now have users in over 75 countries who have conducted hundreds of millions of dollars worth of cryptocurrency exchanges this year. This launch will boost our international presence massively.”
Abra has also announced the addition of Visa and Mastercard payment options for buying bitcoin on its platform. The new payment option is in partnership with fintech company Simplex.
Previously, users who wanted to purchase cryptocurrencies were limited to a few options that included bank deposits and wire transfers. In addition to these, the company also offers a means of buying altcoins using either bitcoin or litecoin for countries where bank wires and deposit options are unavailable.
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