A well-known crypto analyst, Pentoshi, is predicting a potential end to the Bitcoin bull run. He’s shared two key indicators to watch.
Two Signals of a Potential Bitcoin Peak
Pentoshi, who correctly predicted the end of the last Bitcoin bull market, points to two main signals suggesting a potential market peak:
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Good News Stops Mattering: The first sign is when positive news about Bitcoin no longer boosts its price. Pentoshi explains that when good news fails to impact the market, it could be a sign that the rally is losing steam. He says that eventually, “good news will no longer have an effect at all.”
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App Store Rankings:
The second indicator involves keeping an eye on the App Store download rankings. Previously, Pentoshi noted that Coinbase’s top ranking in the app store (not just finance apps) coincided with market peaks. This time, he’s also adding the Phantom app to watch. The idea is that when everyone’s downloading crypto apps, there’s no one left to buy, suggesting a market top.
Why These Indicators Matter
Pentoshi emphasizes that these indicators reflect the emotional cycle of the market, moving from greed to fear and back again. He suggests that by monitoring these signals, investors can better understand the market sentiment and potentially anticipate a shift.
Current Bitcoin Price and Disclaimer
At the time of writing, Bitcoin is trading around $98,227. Remember, this information is for educational purposes only and is not financial advice. Always do your own research before making any investment decisions.
