Alex Mashinsky, CEO of central finance platform Celsius Network, predicts that Ethereum, the 2nd most valuable cryptocurrency, will hit an all-time high.
Mashinsky says that unlike Ethereum, Bitcoin will fall, albeit for a short time. Mashinsky said that Bitcoin (BTC) could drop as much as 20% from its current value.
“We have very strong support in the $29,000 to $33,000 range. This is the range we are in right now. We will continue to rise from this range. We may need to retest the critical support level. So we have a pretty good chance. The market usually likes to test the critical support level and after that We plan to see this increase."
Celsius Network CEO says that after testing the critical support level, Bitcoin can follow historical data and increase about four times from current levels.
“If Bitcoin does what it did last time, it has to go up at least 300% from where it is now. That brings us a result of over $100,000. My prediction for this year is pretty much the same as what I said last year. Before the end of this year, Bitcoin will be at $140,000 to $160,000. will be in between.
For Ethereum, the second largest cryptocurrency by market capitalization, Mashinsky thinks the adoption rate is increasing as the crypto ecosystem expands. He says Ethereum could hit an all-time high towards the end of this year or early 2023.
“I expect ethereum prices to hit $6,000 to $7,000. I think the top was $4,800. But I think we'll break that either this year or next year."
Projects for Bitcoin (BTC) and Ethereum (ETH) are increasing day by day. Experts think that with this increase, Bitcoin and Ethereum will be fully accepted in the world.