Expert predicts 8-fold growth of bitcoin rate in the near future

Alex Mashinsky, CEO of Celsius, has shared his forecasts for the recovery of cryptocurrency markets.

It is likely that the bullish trend, during which bitcoin always shows significant growth, will begin today.

«When bitcoin recovers, it usually grows by 5−8 times compared to the previous figures. Or even more. While the stock market grows only by 30−50−70%.»

Thus, according to Mashinsky, the rebound of cryptocurrencies is always stronger both to new higher highs and new lower lows.

Not least, the growth of the rate was influenced by large investment bankers who are increasingly involved in the cryptocurrency sector. Last week, JPMorgan Chase strategists said that bitcoin has «significant upside potential» and thus helped to change the mood of market participants.

However, CoinShares analysts disagree with Mashinsky. According to their data, the small capital gains recorded this week did not change the bearish sentiment in the cryptocurrency market.