Speaking with Kitco News, Celsius Network CEO Alex Mashinsky discussed his ideal strategy in this situation is not to resist the Fed, which implies pulling out of the U.S. stock market. Recently, there has been lots of talk about the correlation between Bitcoin, the crypto market, and tech stocks. Mashinsky agrees but now says that it’s time for a separation between the two.
Mashinsky believes crypto will do well in a recession
Having predicted that there would be a recession next year, Mashinsky has sold his stocks, yet he remains bullish on Bitcoin and the cryptocurrency markets. To be more specific, Mashinsky believes that both Bitcoin and Ethereum will do very well in a recessionary climate, both in the run-up to and during the recession itself. In his explanation, the Celsius CEO states that this is due to the fact that there is now a “bridge” between TradFi (traditional finance) and CeFi (centralized finance), and then another bridge between CeFi and DeFi (decentralized finance), and that these bridges are now being built and expanded upon. Finally, Mashinsky thinks that Bitcoin will achieve a new all-time high this year, with the digital asset not too far away from hitting its current all-time high. The issue is how much resistance Bitcoin will face following this, but he does claim that “we will see Bitcoin over $100,000 this year.” Watch: Celsius CEO is buying more Bitcoin after prediction of recession in 2023 Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
