Celsius Network co-founder and CEO Alex Mashinsky was asked about the recent price crash that brought Bitcoin to $33,000, roughly half of the last ATH level in November 2021.
Mashinsky says there is a good chance for BTC to continue retesting its support before making another move.
"We may need to test it again. So it's a pretty good chance. The market usually likes to test support and we should see this increase from now on."
Mashinsky predicts that Bitcoin will rise at least 300% from its current price point and the BTC price will rise above $100,000. He said his estimate for Bitcoin's year-end price is between $140,000 and $160,000, and hasn't changed drastically from what he had predicted a year ago.
Mashinsky is also optimistic about the outlook for Ethereum and thinks the leading altcoin will break the previous ATH price before the end of 2022 or early 2023. He adds that he expects the price to rise to $6,000 – $7,000 with strong use cases, number of applications, and increasing adoption of Ethereum.
Bitcoin Predictions by Other Analysts
Blockware analyst Will Clemente stated that the Bitcoin price is watching $ 47 thousand and shared that his personal short-term forecast is $ 58 thousand.
Popular Twitter analyst Justin Bennett predicts that Bitcoin can rise by 40% if it manages to rise above the $42k resistance level.