Conflicting BTC Predictions From Crypto Heavyweights

The CEO of Celsius and the founder of Bitmex have presented conflicting Bitcoin forecasts, with a bullish prediction by one and a bearish prediction by the other. 

Celsius CEO Predicts All-Time Highs

During an interview at the Paris Blockchain Week Summit, Celsius Network CEO Alex Mashinsky shared some insights regarding the future of the BTC and ETH market. His predictions for these prominent cryptocurrencies were primarily bullish, with an acknowledgment of the effects of the Russia-Ukraine war. Mashinsky stated that Terra’s recent BTC venture would boost the demand and price of the flagship crypto. He stated that this growing demand for BTC predominantly in the retail market would ensure that the coin does not drop down to previous low prices. 

Mashinksy does acknowledge the effects on the public markets because of the ongoing war between Russia and Ukraine. Furthermore, he also pointed out that the United States Federal Reserve and its demand for stricter crypto regulations could pose challenges to BTC’s upward climb. His company, Celsius Network, has recently faced pushback from US regulators on their mission to ‘protect’ retail investors from earning rewards on crypto. The company had to update its user rewards program to address the regulatory concerns. However, Mashinsky remained optimistic on the whole about BTC and ETH reaching new ATHs.

He said,

“I definitely think that the demand is here. So, I don’t see us revisiting previous lows…It’s going to take us longer to hit new highs. But I still expect us to break that $60,000 this year on Bitcoin, break the $4,500 on Ethereum.”

BitMex Founder Predicts Crypto Armageddon

On the other hand, BitMex founder and former CEO Arthur Hayes has taken a completely 180-degree approach in his predictive analyses. He recently wrote and published a thinkpiece discussing the mid-term future of premium cryptocurrencies like Bitcoin and Ethereum and other cryptocurrencies. For BTC, Hayes predicts a bearish market in 2022, stating that the coin could drop down to $30K in June, similar to its crash in 2021. His take stems from the stock market performance, as he claims that the crypto market will perform similarly. He also cites the global stance of regulators as the partial reason behind his forecast. 

He wrote,

“The inconvenient truth that haunts crypto at this current juncture is that crypto moves in lockstep with the debt-based, unfree risk asset markets like global developed market equities. Justified or not, the market lumps crypto and big tech in the same cesspool.”

Hayes had previously written another piece, not so long ago in March 2022, predicting the end of the petrodollar/eurodollar monetary system resulting in massive wealth transfer into gold and BTC.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.