Celsius CEO predicts Bitcoin to reach $140,000 before the second quarter of 2022 despite the sharp drop below $50,000. CEO Alex Mashinsky argued that Bitcoin could reach a new high of around $140,000 before April 15, 2022. The analyst also predicted that Ethereum (ETH) will see the $ 5000 levels in a few months. Details cryptocoin.com‘in.
When will Ethereum reach $5000?
Mashinsky noted that the price could go up to $160,000 and this could create a selling environment as investors aim to cash out. However, the executive predicted that the selling pressure would trigger a decline in the second quarter of next year, resulting in a correction that could reach $80,000 as a result. The manager says:
So next year we will hit the breaking point of $140,000 to $160,000. It could be before tax day, before April 15, or we could slip into Q2. I think there are too many sellers at this level. We’ll probably test again. The bottom will be a new high between $80,000 and $90,000.
The CEO is of the opinion that “Bitcoin growth is not about network upgrade”. At the same time, the fall came just days after the entity went through the Taproot upgrade. Specifically, the market expected BTC to increase in value after the network upgrade brought several improvements to the protocol, including improved user privacy. However, Mashinsky believes that the increase in Bitcoin’s value is not due to technological upgrades: “I don’t think Bitcoin is driven by technological innovation. As a store of value, Bitcoin is driven by supply and demand. It is therefore shaped by the state of trust in the community,” he said. On Ethereum, the analyst noted that continued network development will likely continue to push the second-ranked cryptocurrency above $5,000 in a few months. He also acknowledges that Ethereum is growing faster as the ETH2.0 upgrade locks out more assets. As a result, the escalation causes the supply to shrink faster than on the Bitcoin network.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.