The price of Bitcoin might be hovering around the range of $30,000, but most of the experts of the industry have been aiming for a long view. Several traders, including the CEO of Celsius, believe that there is a bullish view of the market in the crypto sector.
Putting this into perspective, Alex Mashinsky states that they could all be looking at the cryptocurrency reaching a sum of $160,000 for this year, or maybe just a little lower. In his interview with Cointelegraph at the BTC 2021 in Miami, the founder of Celsius mentioned that the crypto market hasn’t yet seen the peak of this year.
The expert then justified his statement by saying that the price of Bitcoin was ready for yet another correction after the cryptocurrency had reached an all-time high of $63,000. He states that when a cryptocurrency goes too fast or too high, a price correction is imminent. If one were to look at his tweets from February and March, he had been predicting that a price correction would definitely hit the cryptocurrency and reduce it by half.
Elon Musk is manipulating the Bitcoin Market
Mashinsky believes that Elon Musk has been negatively affecting the crypto sector, Bitcoin in particular. According to the CEO, Musk was simply manipulating the crypto market- as his company accepting BTC payments wouldn’t help the consumers in any way- it would help Musk a lot.
The calculation is simple- the moment a car is bought, its price reduces a lot. On the other hand, the price of BTC will keep fluctuating over time. This will definitely ensure that Elon Musk comes out better than when he went into the deal.
Celsius has shifted its base to the USA after the regulator uncertainty that was taking place in the United Kingdom regarding crypto companies like Bitcoin. According to Roni Pavon, it was mutually decided that the UK wasn’t the most stable place for the company.
