Alex Mashinsky, CEO of central finance platform Celsius Network, said that the flagship cryptocurrency and gold could rise next year and these two asset groups could protect us against what’s to come.
In an interview with Kitco News, Mashinsky said that fiscal and monetary policies in the United States will change in 2022 as the money supply increases and the depreciation of the fiat currency intensifies. Bitcoin (BTC) and goldHe claims it will increase the price.
“Them [ABD Hazine Bakanlığı ve Federal Rezerv Bankası] They’re going to continue to reflux, and so sooner or later, both Bitcoin and gold will be worth a lot higher because basically, people will realize they’ve been taxed and then humiliated, you know.”
According to Celsius Network CEO, Bitcoin could reach a six-digit price or more in 2022.
“So, I expect Bitcoin to rise again between $140,000 and $160,000 next year. When people realize that these are the only two assets that are not linked to the mothership, the dollar, I expect gold to go well above $2,000 and stay above those levels again.”
Mashinsky says Bitcoin and gold could fall before the recovery due to the Federal Reserve’s efforts to fight inflation and reduce asset purchases.
“If we see inflation continuing to rise, if we see the Fed really at war with inflation, trying to put it back in Pandora’s box, then I think asset classes like Bitcoin and gold will take a hit first of all.”
After that, they can recover and rise higher again. But I believe that if the contraction and interest rates rise, everything will suffer first.”
Bitcoin is trading at $50568, up about 3% at the time of writing.
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.