Alex Mashinsky: The compressed spring will straighten up and push the crypto market up

The CEO of the cryptocompany Celsius believes that the market’s fall has been too long and the bullish trend awaits cryptocurrencies with an eightfold increase in bitcoin.

Alex Mashinsky in an interview with Kitco News declaredthat the cryptocurrency markets will recover and even inflation will not become a long-term problem for them. Over the past few days, Wall Street, says Mashinsky, has shown good growth, while the cryptocurrency market continued to fall. According to the businessman, the situation will soon change and, probably, a reversal into a bullish trend will begin on May 31:

“I think we’ll see watch over the weekend and next week. You can push the spring as hard as you want, but the harder you push, the more it bounces, and we missed the bounce here.”

The head of Celsius recalled that when a bullish trend sets in, Bitcoin always shows a significant increase:

“When bitcoin recovers, it usually goes up five to eight times where it was. Or even more. While the stock market will only grow by 30-50-70%. Thus, the bounce of cryptocurrencies is always stronger, forward to new higher highs and lows.”

Mashinsky noted that even large investment bankers are increasingly involved in cryptocurrency. Last week, strategists at JPMorgan Chase said Bitcoin had “significant upside potential,” which in turn helped change market sentiment.

“Even JPMorgan, which doesn’t usually talk about cryptocurrencies, published a report this week arguing that the panic may have been exaggerated and a bounce to $38,000 is expected from where we are today,” Mashinsky warned.

However, CoinShares analysts claim the opposite. According to their data, the small capital gains that were recorded this week did not change the “bearish mood” in the cryptocurrency market.