Bitcoin may have hit new all-time highs, but not enough momentum is here to sustain this rally, and a pullback towards $15,000 to $16,000 may happen before the price climbs higher still, said Alex Mashinsky, CEO of Celsius Network.
Mashinsky has correctly predicted that bitcoin would breach the 2017 highs this year, which it did earlier this week.
Eventually, bitcoin will climb to the $30,000 range by the second half of 2021, but less growth is expected in 2021 due to the emergence of altcoins and the maturation of bitcoin.
“I think the acceleration in 2020 is faster than it’s going to be in the next few years, but there’s still less supply, more demand, which means higher prices. So, we’re still going to see these corrections, 20%, 30%, 40% corrections, but overall the trend is higher,” he said.
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