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The CEO of the crypto company Celsius believes that the fall of the market has been too long and the cryptocurrency is waiting for a bullish trend with an eightfold increase in bitcoin.
Alex Mashinsky (Alex Mashinsky) in an interview with Kitco News said that cryptocurrency markets will recover and even inflation will not become a long-term problem for them. Over the past few days, Wall Street says, has been showing good growth, while the cryptocurrency market has continued to fall. According to the businessman, the situation will soon change and, probably, on May 31, a reversal to the bullish trend will begin:
“I think we’ll see what we’re going to see over the weekend and next week. You can press the spring as hard as you want, but the harder you press, the harder it bounces, and here we missed the rebound moment.”
The head of Celsius recalled that when a bullish trend comes, bitcoin always shows significant growth:
“When bitcoin recovers, it usually grows five to eight times compared to where it was. Or more. While the stock market will only grow by 30-50-70%. Thus, the rebound of cryptocurrencies is always stronger, forward to new higher highs and lows.”
Mashinsky noted that even large investment bankers are increasingly involved in cryptocurrency. Last week, JPMorgan Chase strategists said that bitcoin has “significant growth potential,” which, in turn, helped change the mood of market participants.
“Even JPMorgan, which doesn’t usually talk about cryptocurrency, published a report this week arguing that perhaps the panic is exaggerated and a rebound to $38,000 is expected from where we are today,” Mashinsky warned.
At the same time, CoinShares analysts claim the opposite. According to their data, the small capital gains that were recorded this week did not change the “bearish mood” in the cryptocurrency market.
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