Trader Who Accurately Called End of 2021 Bull Market Predicts “Screaming” Rally for Bitcoin (BTC)

Renowned trader Pentoshi, who accurately predicted the ending of the Bitcoin (BTC) 2021 bull market, has recently shed light on when the flagship cryptocurrency could likely experience a surge in value. The trader stated that market conditions could shift significantly in the coming months, particularly leading up to Bitcoin’s next halving event, anticipated for April 2024.

Pentoshi believes that the continuous decline in both the stablecoin and TVL markets signals the lack of interest from investors and a necessity for new capital. Furthermore, the expectations of approval for a Bitcoin exchange-traded fund (ETF) and a surge in Tether potentially bolster the world’s largest cryptocurrency from dropping below the $20,000-level. Despite this positivity, the trader holds a bearish outlook due to two macro headwinds concerning inflation and regulatory delay.

An additional factor to keep tabs on is the everchanging oil markets, as these are inclined to create a ripple effect of price fluctuations. As Bitcoin halving events encourage extended periods of volatility, it is hard to receive a straight answer in regards to price predictions. Trading gurus however continue keeping an eye out for possible jumps, updates around the ETF, as well as indications of an uptick in investor participation.

Robert Wilson author
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