Speaking to Yahoo Finance, Mashinsky said Bitcoin could hit the level, having managed to trade above $29,000 amid high volatility in recent weeks. By press time, Bitcoin was trading at $38,600 with $40,000 remaining the biggest resistance level. According to Mashinsky, the gains made by Bitcoin in recent days are building up the base for hitting the new all-time high.
Bitcoin adoption to inspire new ATH
Earlier, Mashinsky noted that Bitcoin’s adoption as a payment method in El Salvador informs his price prediction. He noted that other countries would join suit and declare Bitcoin a legal tender, especially from South America. According to the CEO, Bitcoin can significantly get a boost if the adoption occurs in high population countries like Brazil and Nigeria. Furthermore, Mashinsy said the emergence of fintech platforms in the cryptocurrency sector would make it easy for people to enter the sector. [coinbase]
