Celsius Network CEO is still bullish on the flagship cryptocurrency Bitcoin (BTC), despite its recent drop below $35,000. Recently, Alex Mashinsky, co-founder, Chairman and CEO of lending platform Celsius Network, shared his latest thoughts on Bitcoin (BTC). Detail cryptocoin.com‘in.
Famous CEO still looks very optimistic for Bitcoin (BTC)
In an interview with Kitco News host David Lin on February 24, Celsius CEO Aleex Mashinsky claimed that Bitcoin (BTC) found strong support around $30,000 as the price responded to the news that Russia had invaded Ukraine. He said that the global conflict is likely to scare off investors and is at the root of Bitcoin (BTC)’s sudden price drop. However, CEO Mashinsky was confident that the BTC price would recover and rise even higher from previous levels. According to the latest information we received, the famous CEO Mashinsky said about the BTC price, “Yes, I think that’s it. [Rusya-Ukrayna] This is the lowest point of conflict. We have very strong support at the $30,000 level… We will maintain the current levels and go higher.”
Famous CEO Mashinsky argued that Bitcoin (BTC)’s price drop last week served to rid the cryptocurrency markets of over-leveraged and over-expanded investors. He claimed that most cryptocurrency traders looking to “get out” were wiped out on the decline, leaving behind buyers ready to take advantage of the price cut.
Analyst: Leveraged users pushed out
Famous CEO Mashinsky stated the following in his statements on the subject:
All the people who used leverage were kicked out. All traders who want to exit considering the bad news have already been sold out. Cryptocurrency does not have as much leverage as people think. When these people sell, only buyers remain and prices go up.
Mashinsky reiterated the strong fundamentals of Bitcoin, including its constant supply of capacity and its time-related scarcity. He mentioned that the scarcity along with the increasing demand makes it predictable that the price of Bitcoin will increase as more users adopt the crypto asset.
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