The chief executive officer of Celcius shared his opinion on the current & future crypto market situation amid significant ups & downs.
Celsius is one of many crypto-lending companies, which attract crypto holders to deposit crypto assets in return for high rates of interest in cryptocurrencies. Celsius-like platforms are providing services more likely to the traditional banks but these platforms allow only crypto-related activities as a priority option unlike Bank, which remains limited to fiat.
Recently Alex Mashinsky, CEO of Celsius, appeared in an interview with Kitco news. Through the interview, Celsius’s CEO noted that the situation is going to show some bullish stable pattern in the incoming weeks.
Celsius CEO said that if we will look at the money market closely then we will find that wall street is already on the green candle, so the crypto market is near to step toward green candle.
Celsius CEO added:
“I think we will see a reversal over the weekend and into next week. You can press a spring as hard as you want but the harder you press it the harder it rebounds and here we’re overdue for a rebound.”
Alex shared his usual analysis about the up and downs in the price of the highest market cap asset Bitcoin and noted that it traces its path according to the stock market situation.
“When Bitcoin recovers it usually recovers five to eight times of where it was, or even more, where the stock market will only go up or whatever 30, 50, 70%. So the rebound on crypto is always stronger and it always represents new higher highs and new higher lows.”
Earlier, in April 2021, Celsius’s CEO noted the recovery rate in the price of crypto assets was very high over the stock market price. Alex predicted that whole traditional money market investors will show a huge inclination toward the crypto market as a leading choice.