dailyhodl.com
11 February 2024 10:47, UTC
A closely followed crypto strategist who nailed the end of Bitcoin’s 2021 bull market believes that $BTC will print nearly 4x gains before 2025 expires.
Pseudonymous analyst Pentoshi tells his 753,000 followers on the social media platform X that Bitcoin’s three-day chart looks “beautiful.”
According to the crypto strategist, it is within the realm of possibility for Bitcoin to witness a rally of about 277% from current levels within the next 22 months.
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“I think it’s possible we see $BTC at $180,000 by the end of 2025…
And I certainly don’t feel it’s all that crazy with where the world is at, and going. If for any reason, something happens or new information comes to light, then obviously I will admit I’m wrong.
But to date, at least on high time frames. Have been pretty spot on more often than not.”
According to Pentoshi, the approval of spot Bitcoin exchange-traded funds (ETFs) has given the wealthiest generation access to the crypto king. The analyst predicts that the market cap of $BTC can skyrocket by more than 5x in the coming years.
“Our entire asset class is smaller than individual stocks boomers bid up every day. Look how they gobbled up and swallowed the GBTC (Grayscale Bitcoin Trust) supply. What makes you think $BTC won’t be a $5 trillion asset in the next several years?”
Pentoshi also highlights one of $BTC’s strongest narratives: Bitcoin’s supply is capped at 21 million coins in a world where governments can print money at will.
“$BTC should continue to trade like it has finite supply, and like fiat money is unlimited on a long enough time frame.”
At time of writing, Bitcoin is trading at $48,277 with a market cap below $1 trillion.
Generated Image: Midjourney
