As the price of the world’s top cryptocurrency, bitcoin, continues to hover around $30,000, some industry experts are voicing their bullish long-term views on the matter.
According to Alex Mashinsky, chief executive officer and co-founder of the centralized cryptocurrency lending platform Celsius, the crypto market was bound for a correction following bitcoin’s recent all-time high of over $63,000.
“When you go too high, too fast, you are bound for a correction,” Mashinsky told Cointelegraph at Bitcoin 2021 in Miami. “You can see my tweets in both March and February saying ‘we’re going to have a crash; we’re going to have a correction.’ I predicted $30,000. Bitcoin is like a spring – we stretch it too much and we put too much leverage. Too many people got greedy.”
He further forecast that he sees bitcoin reaching $160,000 this year, or possibly a bit lower: “We haven’t seen the highs yet for 2021.”