The co-founder and CEO of blockchain platform Celsius Network says that Bitcoin might hit a brand new document excessive this 12 months if one situation is fulfilled.
Alex Mashinsky says in a Yahoo! Finance interview that if new consumers inject ample quantity into the market, Bitcoin (BTC) might break above a key resistance zone to set a brand new document excessive in 2021.
“If we’ve sufficient quantity from new consumers, we must always return and retest that $53,000 to $55,000 stage. If we break via that, we are going to see new highs this 12 months.”
Mashinsky says that he nonetheless believes Bitcoin might hit a worth of at the least $140,000 over the approaching months regardless of the flagship cryptocurrency momentarily crashing from almost $53,000 to beneath $43,000 earlier this week.
“I’m nonetheless holding my projections that we are going to be hitting the $140,000 to $160,000 ranges. It may take us into Q1 [first quarter] of subsequent 12 months due to this type of flash crash and clean-up we’ve seen with the Chinese miners. But it’s undoubtedly going increased.”
The Celsius CEO says that Bitcoin adoption is accelerating exponentially throughout the globe, which is a bullish signal for the lead cryptocurrency’s worth.
“It took 12 years to get the primary 100 million customers into Bitcoin. It took 5 months to double that. So now, there [are] over 200 million customers worldwide that maintain Bitcoin, have accounts. So it’s undoubtedly accelerating. We’re seeing the hockey stick and extra demand means increased costs.”
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