Celsius Network CEO Predicts Bitcoin to Surpass $100,000 in 2022

In 2022, Bitcoin and Ethereum will hit new all-time highs as a result of capital flight from the stock market to cryptocurrencies, while digital gold will become more expensive than $100,000, Celsius Network CEO Alex Mashinsky said in a statement. Interview with Kitco News.

According to the senior manager, bitcoin began to behave as a protective asset, so he redistributes his savings from stocks to digital gold.

“Since the beginning of the year, the stock market has been falling, but Bitcoin has actually made up most of the losses. We see a divergence between cryptocurrencies and the traditional market. This suggests that Bitcoin is becoming a «safe haven». It’s time for everyone to go their own way. The US Federal Reserve is putting a lot of pressure on the economy by raising rates […] and taking liquidity out of the market”, he said.

Against the background of the isolation of the ninth largest economy, Russia, the situation around the world is deteriorating, Mashinsky noted. According to his forecast, in 2023, US GDP growth will turn negative, and the Fed will be powerless.

In a crisis, cryptocurrencies “should show up well”, the CEO of Celsius Network is convinced. The specialist is waiting for the flow of funds from the traditional market towards digital assets. «Bridges» like the protocol developed by his team can help with this.

“All assets are inflated: real estate, bonds, stocks, it doesn’t matter, ¡you can’t hide money anywhere! Even if you want to buy basic products, the prices of most of them are close to record highs. Where are you going to “park” your capital? The best way is to transfer to an industry that is not related to the US dollar: Bitcoin”, he explained.

He remembers that Elon Musk announced the accumulation of cryptocurrencies in anticipation of rising inflation.

Previously, the founder and CEO of the BTC.TOP group, Jiang Zhuer, called the disconnection of Russian banks from SWIFT and other financial sanctions against the Russian Federation as a positive factor for digital assets.

Tech analyst and director of Factor LLC Peter Brandt predicted that Bitcoin would return to a bull market in May 2024.

Galaxy Digital founder Mike Novogratz has warned that digital gold will «take off again» once the Fed takes a break from tighter monetary policy.

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