A well-known crypto analyst, Pentoshi, is predicting a price bounce for Bitcoin (BTC) and other altcoins. He’s got a large following on X (formerly Twitter) and has a track record of accurate predictions, including correctly calling the 2021 market peak.
Bullish Outlook for Altcoins
Pentoshi is particularly bullish on the “OTHERS” chart, which tracks the total market cap of all cryptocurrencies excluding the top 10 and stablecoins. He sees the recent weekly chart as a positive sign, suggesting a price increase for many altcoins this week.
He’s focusing on key price points:
- $250 billion: A previous buying point, now considered a potential bargain if the market dips.
- $281 billion: Current resistance level; a break above this could lead to further gains.
- $320 billion: A potential target and a good point to take partial profits.
Bitcoin’s Strength Despite Negative News
Despite recent negative news affecting the crypto market, Pentoshi remains positive about Bitcoin’s outlook, calling its current performance “crazy” given the circumstances. At the time of writing, Bitcoin was trading around $96,228.
Market Cap Predictions
Earlier this month, Pentoshi predicted the total crypto market cap could reach $4.42 trillion by Q1 of this year. The current market cap is around $3.134 trillion, leaving room for significant growth according to his forecast.
Disclaimer: This information is for general knowledge and shouldn’t be considered financial advice. Always do your own research before investing in cryptocurrencies./p>
