Although the price of Bitcoin (BTC) is still hovering around $30,000, industry experts are pointing to an optimistic long-term outlook.

To put this in perspective, Alex Mashinsky, CEO and co-founder of Celsius — a centralized cryptocurrency lending platform — told Cointelegraph at Bitcoin 2021 in Miami that he sees Bitcoin at $160,000 this year, or maybe a little less. “We haven’t hit the peak yet in 2021,” Mashinsky said.

Mashinsky also notes that the cryptocurrency market should correct after Bitcoin’s recent full-time run of over $63,000:

“When it goes up too fast, a correction is waiting for you. You can see my tweets in March and February and say, ‘We’re going to collapse, we’re going to fix it.’ I predicted $30,000. Bitcoin is like a spring – we stretch it too much and exploit it too much. of greedy people.”
Elon Musk is manipulating the market.
In addition to discussing bitcoin prices, Mashinsky commented on Elon Musk’s recent tweets about bitcoin. According to Mashinsky, Musk is not helping the crypto community, but rather manipulating the market. Thus, he pointed out that Musk is simply a “tourist” in the crypto country.

Mashinsky also noted that Tesla, which accepts bitcoin payments, will benefit Musk, but not consumers:

“If the richest man in the world is willing to trade bitcoin for a Tesla, you have to ask yourself, who gets the best deal? The moment you buy a Tesla, it costs less than you paid for it, but Bitcoin will continue to increase in value. So the This deal is good for Elon, but not for you.”
Celsius transfers business transactions to the United States.
Ronnie Cohen-Pavon, director of revenue at Celsius, also told Cointelegraph that Celsius will move its business from the UK to the US in the coming months.

According to Cohen Pavon, the move to the US has been facilitated by the recent uncertainty in UK regulators for crypto companies. “We’ve come to the conclusion that the UK is not the most percentage-stable place in terms of bases and geopolitical prospects,” he said.

Although Celsius has had a physical office in the US since 2019, Cohen-Pavon clarified that Celsius will now become a joint stock company or LLC. “Nothing changes with our services – we are now an LLC, not Celsius Network Limited. I believe the transition to participation as a legal entity in the US will be complete in early or mid-August.”

Source: CoinTelegraph