Money Talks: Crypto Market
Originally aired on May 12, 2023
Abra is set to release an app update pending Apple approval, while Bitcoin and Ethereum remain bullish in the market, with Ethereum appearing particularly spring-loaded. Abra also participated in Celsius and is planning to enable withdrawals for Ethereum 2.0 in May.
Bill Barhydt, CEO of Abra, discusses the recent crypto market price action and macroeconomic factors affecting it. He also previews an upcoming demo of Abra’s support for Web 3, NFTs and DEXes.
- Bitcoin price is at the bottom of its range, with a possible sideways or downward trend ahead.
- The dollar is consolidating at the top of its range, potentially bearish for Bitcoin and bullish for stocks, but a weak dollar could ultimately benefit crypto.
- Google’s recent AI announcements have driven its stock price up over 30% this year, and could contribute to a broader stock market rally.
- A demo of Abra’s upcoming support for Web 3, NFTs and DEXes is teased, highlighting the platform’s commitment to bring these emerging technologies to its users.
- Barhydt notes the challenges of technical analysis in a market undergoing a trend change, and encourages taking every prediction with a grain of salt.