Bitcoin ($ BTC) and Ethereum ($ ETH) will hit new highs this year, says Celsius CEO

Celsius cryptocurrency lending CEO Alex Mashinky has revealed that he believes the price of the iconic Bitcoin (BTC) cryptocurrency will exceed its all-time high this year, as is the second largest currency by market capitalization. Ethereum ($ ETH). ).

During an interview with Cointelegraph during the Blockchain Week Summit in Paris, Alex Mashinky discussed various topics related to the cryptocurrency space and predicted new highs for the two major cryptocurrencies.

Mashinky argued that BTC enjoyed strong support at around $ 33,000 earlier this year and that the accumulation of Earth’s bitcoin reserves for its decentralized stable UST currency played an important role in supporting price of cryptocurrency.

According to the CEO, if retail investors start to re-enter the market, they do not “see that we are revising the previous lows”, but see new highs ahead. Mashinky said:

It will take us longer to reach new heights. But I still hope we break that $ 60,000 this year into Bitcoin, we break $ 4,500 into Ethereum.

He added, however, that there are possible obstacles ahead for the cryptocurrency space. These include potential market pressure from the ongoing invasion of Ukraine by Russia and further tightening of the US Federal Reserve.

The interview also saw Mashinky comment on a number of different topics, including macroeconomic factors, institutional adoption of cryptocurrencies, and the debate over centralization versus decentralization.

As noted, last year Mashinky predicted that the price of bitcoin would rise to $ 160,000, before lowering its forecast to $ 140,000 later this year. As for Ethereum, Mashinky said it will reach $ 6,000.

As reported by CryptoGlobe earlier this month, Pantera Capital CEO Dan Morehead revealed that he believes that as the cryptocurrency market grows larger and more valuable, “the breadth of price changes will moderate “, although he expects a” massive rally “over the next 6-12 months. .

The CEO also added that the price of Bitcoin has fallen 56% from its 11-year exponential growth trend, meaning that “markets have rarely been so cheap in relation to the trend.”

WARNING
The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading in cryptocurrencies involves the risk of financial loss.

IMAGE CREDIT
Featured image via Pixabay

Leave a Comment

%d bloggers like this: