Alex Mashinsky, CEO of Celcius Network, shared his thoughts on the 2022 price performance of the leading cryptocurrency Bitcoin in a recent interview. Mashinsky argued that if Bitcoin surpasses several key resistance levels during the year, it could reach price levels of $100,000.
Claiming that Bitcoin could exceed $100,000 price levels by the end of 2021, last year, Mashinsky stated that recent global developments and macroeconomic factors have had a significant impact on BTC's price performance. Celcius Network CEO Alex Mashinsky once again repeated his thoughts that Bitcoin could exceed the price levels of $ 100,000 in 2022, although he was wrong in his expectations for 2021.
Mashinsky stated that it is important that the Luna Foundation buys billions of dollars of Bitcoin to support TerraUSD (UST) reserves, but that capital flows from traditional finance could have a much larger impact on the market. Expressing that corporate-scale demand can cause a great price increase in Bitcoin, Mashinsky argued that many corporate companies can take Terraform Labs as an example in the future.
The leading cryptocurrency Bitcoin (BTC) started trading at the price levels of $ 40,000, with the downward momentum and the recent losses recorded in the last weeks. This loss of value in Bitcoin caused the crypto money market to decline again.
Bitcoin (BTC) Price Analysis: Will The Downfall Continue?
According to technical analysis by NewsBTC's Aayush Jindal, if there is a clear move below the $39,200 support zone, BTC could increase losses.
If the bulls can clear the $40,400 and $40,500 resistance levels, the price could start a decent increase. In this case, the price could rally towards the $41,000 resistance zone. Any further gains could set the pace for a move towards the key $41,500 level in the near term.
Jindal says that if Bitcoin fails to break through the $40,400 resistance zone, it could start another decline. An immediate support on the downside is near the $39,650 level. The next major support is seen near the $39,250 level. A downside break below the $39,250 support zone could accelerate losses. In the stated case, the price could decline towards $38,500 or even $37,750.