2 November 2024
Bitcoin to Hit New Highs This Year Under One Condition: Celsius Network CEO
Alex Mashinsky, the co-founder and CEO of blockchain platform Celsius Network anticipates that Bitcoin might hit a new record this year if this condition is fulfilled.
In a recent Yahoo! Finance interview, Mashinsky states that if new buyers inject adequate volume into the market, Bitcoin (BTC) could break above a key resistance zone to set a new record high in 2021. He also believes that Bitcoin could hit a price of at least $140,000 in the coming months despite the flagship cryptocurrency momentarily crashing from nearly $53,000 to below $43,000 earlier this week.
I am still holding my projections that we will be hitting the $140,000 to $160,000 levels. It might take us into Q1 [first quarter] of next year because of this kind of flash crash and clean-up we have seen with the Chinese miners. But it’s definitely going higher.”
Additionally, the Celsius CEO states that the growing Bitcoin adoption across the globe is a bullish sign for the lead cryptocurrency’s price.
“It took 12 years to get the first 100 million users into Bitcoin. It took five months to double that. So now, there [are] over 200 million users worldwide that hold Bitcoin, have accounts. So it’s definitely accelerating. We’re seeing the hockey stick and more demand means higher prices.”
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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