29.01.2022, 21:32

Celsius Network CEO predicts a new ATH for ETH and warns Bitcoin could crash before the jump

The CEO of centralized finance platform Celsius Network (CEL) Alex Mashinsky has just released the price predictions for the two largest cryptocurrencies by market cap.

In one interview of Kitco News, Mashinsky predicts Bitcoin could fall as much as 20% from its current price before surging.

“BTC has very strong support in the $29,000 to $33,000 range. This is the current range and will continue to bounce off this zone.

The problem, however, is that Bitcoin may need to retest it. So the chances are pretty good. The market usually likes to test support and then move higher.”

Bitcoin is trading at $38,041 at the time of writing.

BTC 4 hour chart | Source: Trade View

Celsius Network boss says that after testing a key support level, Bitcoin could repeat history and rally 4x.

“If bitcoin does what it did last time, the price will go up at least 300% from here. Triple the $35,000 gives a price of over $100,000. My expectations for this year remain the same as what I said late last year. BTC will be worth around $140,000 to $160,000 before the end of the year.”

In the case of ETH, Mashinsky predicts that the second largest cryptocurrency by market cap could reach an ATH in late 2022 or early 2023 as the ecosystem expands and adoption rates rise.

“I predict that ETH price will hit $6,000-$7,000. The highest value reached is $4,878. But I think the price will break that level later this year or maybe early next year.

This is because the use cases, the number of applications running on Ethereum, continue to grow and the adoption rate continues to increase.”

ETH is trading at $2,594 at press time.

ETH 4 hour chart | Source: Trade View

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According to DailyHodl