Bitcoin (BTC) and Ethereum (ETH) are the most prominent crypto assets in the world. Bitcoin is the flagship cryptocurrency that influences the prices of other crypto coins in the market. On the other hand, Ethereum is the most well-known altcoin and is anticipated to outperform the crypto king someday. However, this is merely speculation at the moment.
The prices of both cryptocurrencies have been visibly struggling to cross major resistance levels. However, Alex Mashinsky, CEO of Celsius believes that both the digital assets will surge to new highs this year.
Let’s find out why Mashinsky has this opinion and where BTC and ETH are at the moment.
Meanwhile, if you are interested in buying either of the crypto coins, make sure you opt for one of the best crypto trading exchanges.
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What to Expect from Bitcoin and Ethereum?
Alex Mashinsky is a well-known name in the crypto industry and his company, Celsius, is a crypto lending platform.
In a recent interview, Mashinsky revealed that he believes both Bitcoin and Ethereum will reach new all-time highs within this year.
Both crypto assets are distinguished and stand out among the rest for several reasons. Despite the uncertain price movements for both digital currencies at the moment, they have an undeniable value and utility.
Bitcoin, the top cryptocurrency, is trading at $40,746 (at the time of writing). Here is a graph by CoinMarketCap that shows the price movement of Bitcoin over the last 24 hours.
Ethereum, on the other hand, has also seen a price drop over the last 24 hours and is currently trading at $3,000 (at the time of writing).
Here is a graph by CoinMarketCap for Ethereum.
Terra recently built a Bitcoin reserve for its decentralized stablecoin UST. According to Mashinsky, this is one of the factors that played a key role in supporting the price of BTC.
Mashinsky also stated that the price levels are expected to increase now if the retail investors enter the market again.
He admitted that it might take some time and also spoke about some of the hurdles the crypto space may face. These challenges are likely to be caused by the ongoing conflict between Russia and Ukraine.
However, despite the obstacles, Mashinsky expects Bitcoin to break the $60,000 price mark and Ethereum to break the $4,500 price mark, this year.
While these are only speculations and have not been fulfilled yet, the value of both the crypto assets is evident.
If you are interested in buying BTC, make sure you keep an eye on Bitcoin price prediction and invest carefully.
What Should Novice Crypto Investors Know?
The price movement is only one of several aspects that need to be kept in check while buying a digital currency. The crypto space is known to be volatile as certain factors affect the prices of cryptocurrencies.
As a beginner, if the relevant factors are not kept in mind when buying any digital asset then it can be unsafe and a hassle.
If you are new to the crypto space and want to invest in ETH then keeping an eye on Ethereum price prediction before buying is only one of the helpful tips.
Apart from this, make sure you:
- Choose an exchange that is secure and ticks all the right boxes for you in terms of the features available.
- Keep an eye on the price movements of cryptocurrencies before buying.
- Begin by investing as much as you can afford to lose, especially if you are new.
- Avoid going all in if you do not have any experience in buying or trading crypto.
If you are looking to invest in BTC or ETH for the first time, you can click on SwissBorg or Kraken (U.S. citizens).
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