Even though Bitcoin had a few rough weeks lately, continuing to hover around $30,000, there are a lot of industry experts who believe that the token will surpass $100,000 by the end of the year.
One of them is Alex Mashinsky, CEO and co-founder of centralized crypto lending platform Celsius, who claims that by the end of 2021, one Bitcoin will be worth more than $160,000.
“We haven’t seen the highs yet”
Mashinsky believes that what’s happening right now to the crypto market is absolutely normal, as a correction was imminent, following BTC’s all-time high of over $63,000.
“When you go too high, too fast, you are bound for a correction. 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.”
A few thoughts on Elon Musk
Bitcoin’s price isn’t the only aspect Celsius’ CEO has a few things to say on, as he also commented on Tesla CEO Elon Musk’s recent tweets about cryptocurrency, claiming that he is not helping the crypto community at all with his messages.
“If the richest guy in the world is willing to exchange a Bitcoin for a Tesla, you have to ask yourself, who is getting the good deal? The minute you buy that Tesla, it’s worth less than what you paid for it, but Bitcoin is going to continue to increase in value. So that transaction is good for Elon, but it’s not good for you.”
There’s no doubt that Alex Mashinsky does have a point, but regarding his views on the future of Bitcoin, it’s a bit difficult to consider the milestone he has in mind something tangible, especially considering how the asset is performing lately. But, on the other hand, this is cryptocurrency we’re talking about and things can drastically change overnight…