Bitcoin will crash before it rises at $ 160,000 by the end of 2022

• Alex Mashinsky says that Bitcoin will drop according to historical patterns at short notice before it recovered and shoots $ 160,000 by the end of the year.
• The CEO CEO's CEO says that Ethereum will also reach a new high until the beginning of 2023, which is promoted by the increasing introduction of the blockchain into NFTS and Defi.

If you keep your fingers crossed for Bitcoin that it will get back on your feet in the coming weeks and test its all-time highs, you may be surprised, says a crypto veteran. Alex Mashinsky, the CEO and founder of the crypto loan platform Celsius, says that Bitcoin will crash at short notice, but predicts that it will recover and end four times higher than now.

At the time of printing, Bitcoin is traded at $ 37,217, which corresponds to a decline of 2.42 percent last day. Despite the slight decline, cryptocurrency rose by 11 percent last week. With its relative strength index (RSI) of just over 50, the asset is bought fairly, but still has great upward potential before approaching an overbought level.

With $ 705 billion, the market capitalization of Bitcoin is greater than Warren Buffett's giant Berkshire Hathaway and the Chinese technology giant Tencent.

But while BTC showed signs of relaxation last week, a crypto veteran warns that it will probably get worse before it gets better.

Mashinsky, whose Celsius Network is one of the world's greatest crypto loan platforms, recently said in an interview that Bitcoin will probably decrease by 20 percent in the near future. This would bring him just under $ 30,000, a level that he had last achieved at the end of July last year.

Investors should wait. He believes that the crypto will bounce back,

If Bitcoin does what it did last time, it should increase by at least 300 % from here. Three multiplied by $ 35,000 brings us just over $ 100,000. My forecast for this year remains what I said at the end of last year. And there are $ 140,000 to $ 160,000 before the end of this year.