The co-founder and CEO of blockchain platform Celsius Network said that Bitcoin could set a new record this year if one condition is met.
Alex Mashinsky said in a recent interview that if new buyers inject enough volume into the market, Bitcoin (BTC) could break above a key resistance zone in 2021, setting a new record.
“If we have enough volume from new buyers, we should go back and retest the $53,000 to $55,000 level. If we break that, we will see new highs this year.”
Mashinsky said in June that the price of Bitcoin could reach as high as $160,000 by the end of this year, as cryptocurrencies will spread to a wider audience and people can continue to HODL. The famous CEO said that although the leading cryptocurrency fell from around $53,000 to just under $43,000 earlier this week, he was behind the forecast.
“I am still speculating that we will reach $140,000 to $160,000. [Bu tahmin] It could take us to the first quarter of next year due to such sudden crashes and cleanups we see in Chinese miners. But [Bitcoin] It’s definitely going even higher.”
Celsius CEO added that Bitcoin adoption is accelerating exponentially around the world, which is a bullish sign for the price of the leading cryptocurrency.
“It took 12 years for the first 100 million users to enter the Bitcoin market. It took five months to double that. Currently, there are more than 200 million users worldwide holding Bitcoin accounts. So it’s definitely accelerating. We are seeing rapid growth and more demand means higher prices.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.