Bitcoin

According to the CEO of Celsius, this bull market is different because people already know about cryptocurrencies

Searching for Bitcoin (BTC) on Google appears to be a lot less popular today than it did when the asset hit its all-time high in December 2017.

“2017 was all about hype and first-time adopters trying to catch BTC because of FOMO (fear of missing out on profits),” he said. said the CEO of Celsius, Alex Mashinsky, to Cointelegraph. “It’s different this time,” he said. “The fact that hardly anyone searches for BTC,” Mashinsky said, referring to Google Trends data. “It tells you that everyone already knows what it is and where to buy it (Cash App or Paypal)”.

Bitcoin has gained acceptance in several areas this year, including the Introduction of buying and selling services for cryptocurrencies on the PayPal platform, This increases public awareness of the industry. After several years on a limited-range price roller coaster, Mashinsky said so Cryptocurrencies started their current macro-bullish trend around the same time COVID-19 hit the scene, a stance shared by Pierce Crosby, CEO of TradingView.

According to the CEO of Celsius, this bull market is different because people already know about cryptocurrencies
According to the CEO of Celsius, this bull market is different because people already know about cryptocurrencies

“I started talking about new all-time highs in February 2020,” noted Mashinsky, then referred to his April YouTube interview with Ivan on Tech. During the interview Mashinsky predicted that BTC would hit new highs before 2021, and he was right.

When it comes to future Bitcoin price action, Celsius’s CEO appears to be more conservative than other speculators, some of whom are forecasting prices of $ 100,000 or more for the next year. “We will retest USD 15,000 to USD 16,000 before reaching USD 30,000 in the second half of 2021.” said. “There’s still less supply and more demand, so the price of Bitcoin has more to do with what the economy, COVID-19, and the USD are doing than what Bitcoin is doing.”

After a brief pullback to $ 16,200 Bitcoin has risen again to $ 19,000.

Similar Posts