BTC and ETH will break all-time highs in 2022: Celsius CEO
Celsius CEO Alex Mashinsky shared his insights on the price trends in the BTC and ETH markets this year
At the recently concluded Paris Blockchain Week Summit, Alex Mashinsky, CEO of Celcius Network–the popular crypto lending service–said that Bitcoin and Ethereum will reach their new all-time highs this year. The discussion happened between the Celcius CEO and Cointelegraph’s Joseph Hall.
Mashinsky shared insights on why he feels his predictions will materialise this year. He said that Bitcoin received strong support around $30,000-$33,000 levels because the demand for Bitcoin remains and that there are slight chances of it revisiting its previous levels.
He affirmed that the traditional finance sector would play a key role in sending Bitcoin’s prices soaring. Terra’s recent acquisition of $10 billion worth of bitcoins for the treasury reserves of its stablecoin TerraUSD acted as a catalyst in driving Bitcoin’s prices higher. He felt that if many other people copied Terra’s example, BTC’s prices would rise further.
Last year he had made similar predictions that Bitcoin would touch the $1,00,000 mark in 2021 but the cryptocurrency witnessed a huge slump post its November ATH and lost half its value. Mashinsky said the adverse macroeconomic factors ruined his predictions.
Mashinsky didn’t ignore the ‘clouds in the sky’ that might affect BTC’s performance. As per him, if the Russia-Ukraine war continues, the pressure will be visible on the markets. Mashinsky cited that the actions of the US Federal Reserve were the other reason for a possible negative turnout.