Celsius Network’s CEO, Alex Mashinsky, has revealed his price predictions for the two largest cryptoassets.
In an interview with Kitco News, Mashinsky said that Bitcoin could drop by 20% from its current value before a new rally.
“29. We have pretty strong support in the $ 000 to $33,000 range. This is the range we are in right now. We continue to rise from this range.
But we may need to retest these levels. So there is a pretty good chance, the Market usually likes to test the support level. After that, we should see an increase.”
Bitcoin is trading at $38,272 at the time of writing, according to CoinMarketCap data.
The head of Celsius Network believes that after testing the critical support level, the asset could rise about four times from current levels.
“My prediction for this year is the same as in previous years. I expect a value of 140,000 to 160,000 dollars by the end of this year.”
Mashinsky also announced his forecast for Ethereum. The CEO thinks that the largest altcoin could set a new ATH level by the end of this year or early 2023 as its ecosystem expands and its adoption rate increases.
“I expect the value of Ethereum to rise to the level of $6,000 to $7,000. I think the highest level was $4,800. But I think this year it will break, or it will break at the beginning of next year. Because the number of applications running on Ethereum continues to increase and adoption is increasing day by day.”
Ethereum is trading at $2,605 at the time of writing, according to CoinMarketCap data.
35434
