Celsius Alex Mashinky, CEO of cryptocurrency lending platform, has revealed he believes the price of the flagship cryptocurrency Bitcoin (BTC) will surpass its previous all-time record this year, as will the second-largest cryptocurrency, Ethereum ($ ETH). ).
Mashinky argued that BTC had seen strong support at around $ 33,000 earlier this year and that the collection of Terra’s Bitcoin reserves for a diversified stable coin UST has supported the price of the cryptocurrency.
According to the CEO, if private investors start to re-enter the market, he will not “see us return to previous low readings” but will instead see new highs ahead. Mashinky said:
It takes longer to reach new heights. But I still expect us to break that $ 60,000 this year with Bitcoin and break $ 4,500 with Ethereum.
However, he added that there are some potential obstacles to the cryptocurrency. These include the possible pressure on the market caused by Russia’s continued invasion of Ukraine and the further tightening of the US Federal Reserve.
In the interview, Mashinky also commented on a number of different topics, such as macroeconomic factors, the institutional mobilization of cryptocurrencies, and the debate on centralization and decentralization.
As reported, Mashinky predicted the price of bitcoin would rise to $ 160,000 last year before lowering its forecast to $ 140,000 by the end of this year. As for Ethereum, Mashinky said it will reach $ 6,000.
As CryptoGlobe reports, Dan Morehead, CEO of Pantera Capital, revealed earlier this month that he believes that as the cryptocurrency market expands and becomes more valuable, “the amplitude of price fluctuations will slow”, even though he sees a “massive rally” over the next 6-12 months. .
The CEO also added that the price of Bitcoin has fallen 56% of its 11-year exponential growth trend, meaning “the market has rarely been so cheap relative to the trend.”
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. There is a risk of financial loss from investing in or trading in cryptographic assets.
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h/t – CryptoGlobe