A cryptocurrency strategist, who has a track record of accurately predicting market trends, believes that Bitcoin is set for a significant rise after breaking out of a long consolidation phase.
The analyst, known as Pentoshi, shared with his large following on X that he no longer foresees Bitcoin dropping to $50,000 and sees all indicators pointing towards a bullish trend for BTC.
Pentoshi predicts that Bitcoin will continue to gain global adoption, with increasing demand for ETFs and interest from institutions like retirement funds. He emphasizes that any major price dips in Bitcoin should be seen as buying opportunities.
Furthermore, Pentoshi notes that BlackRock’s Bitcoin ETF has surpassed its gold ETF in terms of net assets, indicating a growing interest in digital assets among institutional investors.
As Bitcoin trades at $77,317, Pentoshi also shares his positive outlook on Ethereum, expecting the price of ETH to rally in the coming weeks.
At the time of writing, Ethereum is valued at $3,135, showing a positive gain of over 5% for the day.
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