Despite the fact that the price of Bitcoin (BTC) continues to fluctuate around $ 30,000, experts note that the long-term outlook is encouraging.
Alex Mashinsky, CEO and co-founder of the Celsius centralized crypto lending platform, believes BTC will hit $ 160,000 this year.
“We have not yet reached the highs for 2021,” Mashinsky said at the Bitcoin 2021 conference.
The top executive also noted that the cryptocurrency market should have corrected after Bitcoin’s recent all-time high exceeding $ 63,000:
“When you go too high, too fast, you are bound to correct. You can watch my tweets in March, in February, which says “we will have a collapse, we will go for a correction.” I predicted $ 30,000.
Bitcoin is like a spring – we stretch it too much and leverage too much. Too many people have become greedy. “
In addition to discussing the price of bitcoin, Mashinsky commented on the recent tweets of Elon Musk. The expert is sure that the entrepreneur is not in solidarity with the crypto community; rather, he is manipulating the market. In his opinion, Musk is just a “tourist” in the land of cryptocurrencies.
Mashinsky explained why Tesla accepting Bitcoin payments would benefit Musk and not consumers:
“If the richest guy in the world is willing to exchange Bitcoin for Tesla, you have to ask yourself, who is doing the best deal? The minute you buy this car, it costs less than what you paid for it. Bitcoin will continue to rise in value, so this deal is good for Elon, but not for you. “
Celsius Chief Revenue Officer Roni Cohen Pavon added that the company will move its business operations from the United Kingdom to the United States in the coming months.
According to Pavon, the move to the United States is facilitated by the uncertainty of regulation in the UK, as a result of which the company “came to the conclusion that the UK is not the most stable place in terms of geopolitical prospects.”