Alex Mashinsky says Bitcoin’s high has not yet been set this year.
Although Bitcoin price remains around $ 30,000, industry experts note that there is an optimistic long-term view.
To clarify, Alex Mashinsky, CEO and co-founder of Celsius – a centralized crypto lending platform – announced at Bitcoin 2021 in Miami that Bitcoin will hit $ 160,000 or maybe a little lower this year. Maschinski says:
“The peak for 2021 has not yet been reached.
Mashinsky went on to comment that the crypto market is in need of a correction after hitting its recent all-time high of $ 63,000:
“If you go too high and too fast, you have to adjust. You can see my tweets in both March and February saying we are going to crash, we are going to have a fix. I estimate $ 30,000. Bitcoin is like a spring – we stretch it too much and use too much leverage. Too many people were greedy. “
Elon Musk manipulates the market
In addition to discussing the price of Bitcoin, Mr. Mashinsky commented on Elon Musk’s recent tweets about Bitcoin. According to Mashinsky, Musk is not helping the crypto community, but rather manipulating the market. As such, he found that Musk is simply a “tourist” in the land of cryptocurrencies.
Mr Mashinsky also noted that Tesla would benefit from accepting Bitcoin payments to Musk, but not consumers:
“When the richest man in the world is ready to exchange a Bitcoin for a Tesla, one has to ask, who gets the bargain? Once you buy this Tesla, it’s worth less than you paid for it, but Bitcoin will continue to appreciate in value. So this deal is good for Elon, but not good for you. “
Celsius moves business to the USA
Roni Cohen Pavon, Celsius chief revenue officer, added that Celsius will be relocating its business from the UK to the US in the coming months.
According to Cohen Pavon, the move to the US is being driven by recent regulatory uncertainties in the UK for crypto companies. He shared:
“We concluded that the UK is not the most stable place for Celsius in terms of regulations and geopolitical beliefs.”
Although Celsius has had a physical office in the US since 2019, Cohen Pavon stated that Celsius is now becoming a limited company, or LLC.
“Nothing has changed in our services – we are now an LLC instead of C Network Limited. I believe the transition to participating as an individual in the US will be completed in early or mid-August. “
You may be interested in: