Bitcoins Upside Potential Is Unlimited According to Top Analyst Who Predicts BTC Will Continue to Rise Indefinitely With One Caveat
Bitcoin’s long-term potential is said to be unlimited, according to popular crypto strategist Pentoshi. Despite recent price stagnation, Pentoshi remains optimistic about Bitcoin’s future, although he predicts a significant correction before any upward movement. He suggests that even in the worst-case scenario, with Bitcoin dropping to $48,000-$51,000 (a 20-25% decline), investors should become more bullish because the potential for upside becomes greater. Pentoshi believes that the current macro landscape indicates an impending loosening of monetary policy by the Federal Reserve, which has historically triggered major Bitcoin bull markets. Additionally, the launch of Bitcoin exchange-traded funds (ETFs) this year has increased interest in BTC exposure. Pentoshi expects other countries to follow El Salvador’s lead and start accumulating Bitcoin. He sees Bitcoin as separate from the altcoin market, with an uncapped upside potential due to heavy printing, finite supply, and increasing demand from nation-states and ETFs. In contrast, he believes altcoins will have their own separate cycles. Pentoshi concludes by stating that Bitcoin has experienced parabolic rallies in the past, even before the existence of ETFs or nation-state accumulation. As of now, Bitcoin is valued at $62,047.