Pseudonymous Analyst Pentoshi Says All Lights Are Now Flashing Green for Bitcoin (BTC)

Pseudonymous analyst Pentoshi tells his 809,100 followers on the social media platform X that he no longer sees Bitcoin dropping to $50,000

Crypto strategist who called the end of the 2021 Bitcoin bull market says that everything is now looking good for BTC.

Pseudonymous analyst Pentoshi told his 809,100 followers on social media platform X that he no longer sees Bitcoin falling to $50,000 after breaking out from an eight-month consolidation range.

According to the crypto strategist, Bitcoin seems set to move much higher as he expects BTC to see increasing global adoption.

“I find it unlikely we see those prices again after trading so long in this range.

We see more ETF (exchange-traded fund) demand. We are seeing that in the US some states are interested in holding it and that retirement funds will begin to allocate.

Global adoption will only INCREASE from here.

It’s on an unstoppable path, any big pullbacks are a gift.” 

The trader also noted that BlackRock’s Bitcoin ETF has outpaced the financial giant’s gold ETF in net assets. On November 8th, BlackRock’s iShares Bitcoin Trust (IBIT) hit $34.33 billion in net assets while its iShares Gold Trust (IAU) hovered at $32.949 billion.

Says Pentoshi,

“Just wait until several countries start buying BTC.

It didn’t even take a year for this first flippening. People just got impatient during the lull periods

It reminds me of a quote from my uncle, a small-time investor named Warren Buffet.

The crypto market is a device for transferring money from the impatient to the patient.”

At press time, Bitcoin trades for $77,317.

As for Ethereum, the trader says he sees upcoming rallies for ETH.

“ETH also looking great for once. Expect this to do well in the weeks ahead.”

At press time, Ethereum is valued at $3,135, up over 5% on the day.