Celsius Network CEO Alex Mashinsky said that the leading crypto, which fell below $35,000 for a while due to the war with Russia and Ukraine, is in an uptrend.
In an interview with Kitco News, Mashinsky stated that the asset has found strong support at the $30,000 level and is on an upside trajectory.
“I think this is the bottom point for the Russia-Ukraine conflict. We have very strong support at the $30,000 level. We will keep the current levels and go higher”
The Celsius Network CEO also believes that Bitcoin will likely trend higher as the excessive leverage in the markets fell after Russia’s attack on Ukraine.
“All people using leverage flushed. All traders who wanted to exit considering the bad news have logged out. Crypto doesn’t have as much leverage as people think. When these people sell, there are only buyers left, and then prices will rise”
Mashinsky, emphasizing the limited supply of Bitcoin, said that the asset will rise to higher levels.
“The supply is limited and there will never be more than 21 million Bitcoins. Your increased demand is basically telling you that the value of Bitcoin will increase over a long period of time.
Bitcoin will increase in value because more and more people will use it”
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