2025-02-10 21:00:27 by ZyCrypto

Advertisement &nbsp &nbsp Bill Barhydt, the CEO of crypto investment firm Abra Global, recently took to the X social media platform (aka Twitter) to stir the BTC community with a bold Bitcoin price prediction.  Barhydt proposed that the price of Bitcoin, the world’s largest crypto by market cap, could climb all the way to $700,000 per coin during this market cycle due to an incoming gigantic liquidity injection. He foresees a “cyclical Valhalla” to begin in Q1. Abra CEO Predicts Explosive Price Rips For BTC, ETH, And SOL Abra founder Bill Barhydt believes that BTC price at a whopping $350,000 is now the “base case” scenario.  At the time of writing, Bitcoin is trading hands at $97,466, representing a 1.2% gain in the last 24 hours. Despite having lost 2.8% of its value over the last seven days, Barhydt thinks the only way is up for the world’s flagship cryptocurrency.  Besides predicting that Bitcoin is on pace to hit $700K, the BTC veteran also shared ambitious targets for Ethereum and Solana’s SOL. Specifically, he argues that ETH and SOL could reach $8,000 and $900, respectively, in a base case. Advertisement &nbsp “High end of the range is ~2x these values,” Barhydt added. Massive Liquidity Injection In Q1 To Push Prices Higher The rationale for Abra CEO’s bullish forecast is the new U.S. government under pro-crypto president Donald Trump. “My model is simple. This administration wants interest rates much lower, and they’ll do whatever they have to achieve that,” he explained. “They also need to refinance over $7T in debt. Tax cuts are coming. All of this equates to a massive liquidity injection whether via QE or some other means.” Barhydt was referring to quantitative easing (QE) — increasing the money supply — which has historically led to a drastic increase in the price of equities and crypto.  Trump admin’s proposed tax cuts could boost this liquidity surge, aligning with what he terms the “cyclical Valhalla” — a period where daring investors could earn handsomely from the market’s evolving dynamics. “Cyclical Valhalla is coming. Those with brass balls will be rewarded accordingly,” the Bitcoin OG posited, before highlighting Q1 as the possible deadline for such liquidity injections to start. Barhydt is not the only one who is bullish on Bitcoin’s chances of hitting $700,000. Last month, BlackRock CEO Larry Fink suggested that BTC could hit this lofty price point if it experienced much broader institutional adoption. Fink revealed that many people, including the operators of a sovereign wealth fund he met in Switzerland, are debating whether to have a 2% or 5% allocation to Bitcoin.