It has been more than a month since Bitcoin (BTC) has been experiencing a price dip. For more than a month, Bitcoin’s price has been hovering around $30,000. Despite many negative speculations about Bitcoin, many industry experts are not losing any hopes about the digital currency.
As per the analysts, Bitcoin is set to experience a bullish run that would continue for the long term. The bullish run would prove to be extremely beneficial for Bitcoin as it will continue hitting all-time highs.
Out of all the industrial experts, Alex Mashinsky is the one with a firm prediction around Bitcoin’s bullish run. According to his analysis, Bitcoin is destined to hit all-time highs and will continue with the trend for the long term.
Alex Mashinsky is the co-founder and chief executive officer at Celsius. Celsius is one of the most prominent and leading platforms in the centralized cryptocurrency lending industry.
According to Mashinsky, Bitcoin is destined to hit an all-time high and continue with the trend for the long term. In terms of figures, Mashinsky predicted that the price of Bitcoin would hit $160,000 per BTC figure by the end of 2021.
The first time Mashinsky made a statement about Bitcoin (BTC) was during the Bitcoin 2021 Conference in Miami. He stated that he is currently looking at the market trends and he can clearly see that Bitcoin will cross the $100,000 per BTC without any difficulties.
Then Bitcoin will go on to hit an all-time high until the end of 2021. As per Mashinsky, he can see the price of Bitcoin go up to $160k or just a few thousand less than that. He confirmed that the year 2021 has not witnessed the all-time high for Bitcoin yet.
He clarified that as Bitcoin hit the $64k per BTC mark, it was obvious that it was going to experience a correction. However, uncertainty came as the digital asset continued facing problems from the mainstream institutions.
One major concern that came around Bitcoin was its mining from energy sources that were responsible for high carbon emissions. This revelation received a lot of backlash from the mainstream industry and its price ended up going below the $35k per BTC mark.
Now, reports have started coming in regards to the mining of cryptocurrency mining. The country responsible for blood bitcoin was China, which has now started cracking down on mining firms in the country.
This action from Chinese authorities has started pushing cryptocurrency mining firms out of the country. As these companies continue moving outside of China, they will continue mining bitcoin but through environment-friendly energy sources.
This would eventually give a boost to Bitcoin and set it on the right track for hitting an all-time high by the end of 2021.