Recently, Alex Mashinsky, Co-founder, Chairman, and CEO of lending platform Celsius Network, shared some of his latest thoughts on Bitcoin and Ethereum.
Speaking in a recent interview with Kitco News, Mashinsky was asked about the recent Bitcoin price crash, which brought BTC to $33K, roughly half of its last all-time high price in November 2021. Mashinsky argued that support for Bitcoin was strong in the $29,000 to $33,000 range, and that the digital asset was bouncing off of that price point.
He told Kitco there was a good chance $BTC would continue to retest its support before making another move up.
As reported by The Daily Hodl, he said:
The question is, we may have to retest it again. So there’s a pretty good chance. The market usually likes to test support, and after that, we should see that increase.
Mashinsky predicted that Bitcoin would go up “at least 300%” from its current price point, bringing BTC to above $100K. He said his projection for Bitcoin’s end-of-year price was between $140,000 and $160,000, largely unchanged from what he predicted a year ago.
Mashinsky is also bullish on the outlook for Ethereum, saying that $ETH will break its previous all-time price high before the end of 2022, or in early 2023. He said he expects the price to go to $6,000 – $7,000, pointing out the strong use cases, number of applications, and growing adoption of Ethereum.
