A meeting with the CEO of Celsius Network, Alex Mashinsky, at the Paris Blockchain Week Summit. They talked about a lot of different things, like where the Bitcoin and Ethereum markets are going.
Mashinsky says that Bitcoin (BTC) got a lot of support at around $30,000 to $33,000.
The entrepreneur thinks Terra’s recent purchase of BTC played a big role in keeping the price of BTC up, as well as other institutions getting into the market.
He also said that if more people start investing in Bitcoin, it could go to new highs.
“I definitely think that the demand is here. So, I don’t see us revisiting previous lows.”
Even though there are a lot of “clouds in the sky,” Mashinsky also thought there were some.
He says that if Russia keeps attacking Ukraine, the public markets will feel the strain.
Other than this, he said that the actions of the United States Federal Reserve could also make people less likely to come.
If Mashinsky is right, both Bitcoin and Ether (ETH) will hit new all-time highs in 2022.
He said that:
“It’s going to take us longer to hit new highs. But I still expect us to break that $60,000 this year on Bitcoin, break the $4,500 on Ethereum.”
They also talked about other things, like the debates about decentralized and centralized finance, which they also talked about.
Mashinsky said: When Vitalik Buterin said that the crypto space needs solutions that aren’t completely centralized, Mashinsky said:
“He’s basically saying, look, we don’t have to be 100% DeFi. CeFi and DeFi are two sides of the same coin. And you sometimes you need to CeFi, sometimes you need to use DeFi, and that’s what Celsius does every day.”
Finally, the entrepreneur told us a simple way to trade.
As he says, if someone buys BTC and then can’t sleep, “That means you have too much Bitcoin.”
However, if someone buys BTC and then goes to sleep, they don’t have enough Bitcoin.
“Find that sweet spot and just keep going,” he said.