Locked in at around $30,000, Bitcoin still has a bright future ahead of it this year. That’s the prediction of Alex Mashinsky, a crypto expert.
Bitcoin’s price predictions have left many skeptical in recent weeks. However, the exercise still has its followers, such as PlanB, a great craftsman of the S2F model. The latter assures it, a price of 288.000 dollars remains possible for the BTC.
Even his Twitter followers are critical of this prospect. Forty-one percent of them believe that the price of Bitcoin will end the year below $100,000. Clearly, the S2F model will be invalidated.
Alex Mashinsky does not fall into the skeptical category. The boss of the centralized crypto lending platform believes that Bitcoin is not done surprising and breaking records in 2021.
At the Bitcoin 2021 conference, he tells CoinTelegraph his prediction for BTC. And according to him, BTC could reach $160,000 by the end of 2021, or even just miss that target. “We haven’t seen the highs for 2021 yet,” assures Alex Mashinsky.
How then to explain the fall of the last weeks? For the boss of Celsius, the explanation is simple. The cryptocurrency market could not escape a correction because of the historical values reached by crypto-assets.
“When you go too high, too fast, you are bound for a correction. You can see my tweets in March and February saying ‘we are going to have a crash, we are going to have a correction. I predicted $30,000. Bitcoin is like a spring – we stretched it too far and put too much leverage on it. Too many people got greedy,” the expert details.
The current situation was therefore predictable for him. But the intervention of Elon Musk was probably a difficult parameter for investors to anticipate. Moreover, Alex Mashinsky is not soft on the latter, whom he calls a “tourist” of the crypto.
But the Celsius executive also accuses his Tesla counterpart of manipulating the cryptocurrency market. One thing is certain, Elon Musk is by no means an ally for crypto players.
“If the richest man in the world is willing to trade a bitcoin for a Tesla, you have to wonder who is getting the good deal. As soon as you buy that Tesla, it’s worth less than what you paid for it, but the bitcoin will continue to rise in value. So this deal is good for Elon, but it’s not good for you. “
Thus, Telsa would be the main beneficiary of Bitcoin, not consumers. Under pressure, however, the automaker has decided to suspend this payment option. The firm is waiting for a less energy-intensive digital currency.