Alex Mashinsky, CEO of crypto lending platform Celsius (CRYPTO: CEL), says that Bitcoin (CRYPTO: BTC) could fall by up to 20% from the current price before surging higher.
In a recent interview, Mashinsky said that Bitcoin could follow past precedents and surge by around four times over current levels, after testing the critical support level.
“If Bitcoin does what it did last time, it should go at least 300% up from here. Three multiplied by $35,000 puts us just over $100,000. My projection for this year stays what I said late last year. And it’s $140,000 to $160,000 before the end of this year,” he noted.
Bitcoin’s market dominance is up over 2% in the last 24 hours and is trading at $37,998.10 at the time of writing.
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Talking about Ethereum (CRYPTO: ETH), Alex said the crypto coin could hit a new all-time high later this year or early 2023 as the ecosystem expands and the adoption rate rises.
“I expect Ethereum prices to go [to] the $6,000 to $7,000 level. I think the highest it got to was $4,800. But I think we’re going to break through that later this year, maybe beginning of next year,” he added.
At the time of writing, Ethereum is trading at $2,613.88, down 0.26% in the last 24 hours.
Read More: Celsius CEO Says Bitcoin May Crash Ahead Of Massive Rally, Ethereum Heading To New