The price of the first cryptocurrency will reach the $160,000 level in 2021, said Alex Mashinsky, head of cryptocurrency lending service Celsius Network. This was reported by Cointelegraph.
Mashinsky stressed that the crypto industry "has yet to see highs in 2021." He also recalled his prediction of a correction and attributed it to digital gold rising too fast.
"You can see my tweets in March and February saying, 'We're in for a crash and a correction'. I predicted $30,000. Bitcoin is like a spring - we're stretching it too far and putting a lot of leverage in," Maszynski explained.
The head of Celsius Network added that Elon Musk is not helping the crypto industry with his tweets, but rather manipulating the market. He also called the head of Tesla a "tourist" in the digital asset sector.
"If the richest guy in the world is willing to swap Tesla for bitcoin, you have to wonder who will make a good deal? The minute you buy a Tesla, it will be worth less than you paid for it, but bitcoin will continue to rise in value. So this transaction benefits Ilon, but not you," noted Mashinsky.
In June, Celsius Network announced an investment of over $200 million in bitcoin mining in North America.
Recall that Robert Kiyosaki, author of the bestseller "Rich Dad, Poor Dad" and entrepreneur, predicted "the biggest crash in world history" and predicted that the price of the first cryptocurrency would fall to the $24,000 level.