A crypto strategist known for accurately announcing the end of the Bitcoin bull market in 2021 says all lights are now flashing green for BTC.
Pseudonymous analyst Pentoshi tells his 809,100 followers on social media platform
According to the crypto strategist, Bitcoin seems poised to go much higher as he expects BTC to witness increasing global adoption.
“I find it unlikely that we will see these prices again after trading in this range for so long.
We are seeing increased demand for ETFs (exchange-traded funds). We see that in the US some states are interested in holding it and pension funds will be allocated.
Global adoption will only INCREASE from here on out.
It is an unstoppable path, every major setback is a gift.”
The trader also highlights that BlackRock’s Bitcoin ETF has surpassed the financial giant’s gold ETF in terms of net assets. On November 8, BlackRock’s iShares Bitcoin Trust (IBIT) hosted hit $34.33 billion in net assets, while the iShares Gold Trust (IAU) floated at $32.949 billion.
Say Pentoshi,
“Just wait until different countries start buying BTC.
It didn’t even take a year for this first reversal. People just got impatient during the quiet 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 the time of writing, Bitcoin is trading at $77,317.
As for Ethereum, the trader says he sees inbound rallies for ETH.
“ETH also looks great for once. I expect this to go well in the coming weeks.”
At the time of writing, Ethereum is worth $3,135, an increase of more than 5% on the day itself.
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Generated image: Midjourney