Despite the Bitcoin price temporarily dropping below $35,000 due to escalating tensions between Russia and Ukraine, analysts think post-crisis markets can quickly recoup. Up-to-date analyzes of 2 experts cryptocoin.com compiled for our readers.
Bitcoin bottom prices confirmed?
On this topic, in a recent Kitco interview, Celsius Network CEO Alex Mashinsky said that Bitcoin probably found solid support around $30,000 and is currently trending upwards:
Yes, I believe this is the bottom of this Russia-Ukraine conflict. We have a lot of support at $30,000… We will keep the current levels and push higher.
According to Mashinsky, Bitcoin is expected to show an upward trend as markets are freed from excessive leverage as a result of Russia’s aggressive march towards Ukraine:
All leveraged transactions have been cleared. All investors who wanted to sell because of the negative news had already done so. The crypto market does not have as much influence as many people believe. When these people sell, only buyers remain and prices go up as a result.
Mashinsky also highlights Bitcoin’s key features, claiming that the currency’s proven scarcity will push its value to new heights:
Having a limited supply: there will never be more than 21 million BTC and your increased demand is effectively telling you that the price of Bitcoin will increase over time…As more people use Bitcoin, the price will increase.
Crypto money explanations from Islam Memiş
With the start of the Russia-Ukraine war, the search for a safe haven in the markets increased the demand for cryptocurrencies and cryptocurrencies became active again. On this issue, Islam Memiş expects that after the war, crypto investors will take action for Bitcoin and other crypto money investments, with the expectation that central banks will tighten in response to inflation concerns in global markets.
According to the predictions of Islam Memiş, who made remarkable statements after the harsh market changes, it may be time to buy Bitcoin and other cryptocurrencies. In his statement, Islam Memiş said:
Do not look behind anything flying. Pay attention to whatever has fallen that day. You can invest in that side and buy them.
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