Celsius Network CEO is still bullish on the flagship cryptocurrency Bitcoin (BTC), despite its recent drop below $35,000. Recently, Alex Mashinsky, co-founder, Chairman and CEO of lending platform Celsius Network, shared his latest thoughts on Bitcoin (BTC). Details are on Kriptokoin.com.
Famous CEO still seems very optimistic about Bitcoin (BTC)
In an interview with Kitco News host David Lin on Feb. 24, Celsius CEO Aleex Mashinsky stated that the price is Russia’s invasion of Ukraine. He claimed that Bitcoin (BTC) has found strong support around $30,000, as he responded to the news that He said that the global conflict is likely to scare off investors and is at the root of Bitcoin (BTC)’s sudden price drop. However, CEO Mashinsky was confident that the BTC price would recover and rise even higher from previous levels. According to the latest information we have received, the famous CEO Mashinsky on the BTC price said, “Yes, I think this is the lowest point for this [Russia-Ukraine] conflict. We have very strong support at the $30,000 level… We will maintain the current levels and go higher.”
Famous CEO Mashinsky argued that Bitcoin (BTC) price drop last week served to get rid of over-leveraged and over-expansive investors from the cryptocurrency markets. He claimed that most cryptocurrency traders looking to “get out” were wiped out on the decline, leaving behind buyers ready to take advantage of the price cut.
Analyst: Leverage users were pushed out
Famous CEO Mashinsky made the following statements on the subject:
All people using leverage were kicked out. All traders who want to exit considering the bad news have already been sold out. Cryptocurrency does not have as much leverage as people think. When these people sell, only buyers remain and prices go up.
Mashinsky reiterated the strong fundamentals of Bitcoin, including its constant supply of capacity and its temporal scarcity. He mentioned that the scarcity along with the increasing demand makes it predictable that the price of Bitcoin will increase as more users adopt the crypto asset.
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