A top analyst who has reached the end of the 2021 Bitcoin (BTC) bull run believes the stage is being paved for altcoins to witness massive rallies.
Pseudonymous analyst Pentoshi tells his 737,800 followers on the social media platform of Bitcoin and Ethereum (ETH). ).
Pentoshi predicts that TOTAL3 could rise nearly 40% from current levels after turning its $444 billion resistance into support.
“So far so good, and we could have a period of falling below previous range highs or consolidating for a while. So far this has been a fairly healthy trend, with higher highs and higher lows. We caught some great moves. I would like to see it move towards the higher range.”
According to the crypto strategist, he has thinks that TOTAL3 will reach its target of $640.64 billion after the Bitcoin halving, scheduled for April.
The halving, which halves BTC miners’ rewards, has historically coincided with bull runs in the broader crypto markets.
At the time of writing, TOTAL3 is trading for $462 billion.
Looking at Bitcoin, Pentoshi says he is unsure about the crypto king’s potential price action in the coming days as the market awaits the U.S. Securities and Exchange Commission’s (SEC) decision on several BTC exchange-traded fund (ETF) filings . However, in the long term, the analyst predicts that BTC will continue to rise.
“I didn’t create BTC on purpose post-ETF price predictions because I just don’t know. Anyone who claims to know is full of bullshit, at least in the short term. In the long run, I believe we are moving up and to the right. It is programmed with how fiat and central banks work.”
At the time of writing, Bitcoin is worth $43,740.
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Featured image: Shutterstock/Anna Anikina
Generated image: DALLE-2
