Speaking in a recent interview with Kitco News, Mashinsky was asked about the recent Bitcoin price crash, which brought BTC to $33K, roughly half of its last all-time high price in November 2021. Mashinsky argued that support for Bitcoin was strong in the $29,000 to $33,000 range, and that the digital asset was bouncing off of that price point.
He told Kitco there was a good chance $BTC would continue to retest its support before making another move up.
As reported by The Daily Hodl, he said:
The question is, we may have to retest it again. So there’s a pretty good chance. The market usually likes to test support, and after that, we should see that increase.
Mashinsky predicted that Bitcoin would go up “at least 300%” from its current price point, bringing BTC to above $100K. He said his projection for Bitcoin’s end-of-year price was between $140,000 and $160,000, largely unchanged from what he predicted a year ago.
Mashinsky is also bullish on the outlook for Ethereum, saying that $ETH will break its previous all-time price high before the end of 2022, or in early 2023. He said he expects the price to go to $6,000 – $7,000, pointing out the strong use cases, number of applications, and growing adoption of Ethereum.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.