Bitcoin Sees Room for Another Major Leg Higher, Abra CEO Says

Abra CEO Bill Barhydt believes Bitcoin (BTC) could see another major price increase, citing several factors that support his 'epic run' prediction.

In a recent interview with Scott Melker, Barhydt pointed out that BTC has already posted a 40% gain in Q3 and sees room for further growth. He noted that the asset's scarcity, improving market structure, and liquidity cycle all contribute to his bullish view.

Barhydt cautioned against assuming the traditional four-year cycle will repeat exactly but still predicts an 'epic run' over the next 18 months. He argued that Bitcoin's fixed scarcity becomes increasingly valuable as governments continue expanding the money supply.

The expert also highlighted the importance of leverage in the current market, suggesting that lower leverage may contribute to lower volatility and a more sustainable rally.