Following the conclusion of the Bitcoin (BTC) bull market in 2021, a top analyst believes the stage is being set for the altcoin to witness a massive rebound.
Pentoshi, a pseudonymous analyst, told his 737,800 followers on social media platform . ).
Pentoshi predicts that TOTAL3 could rise nearly 40% from current levels after turning resistance at $444 billion into support.
“So far so good, and there may be a period of decline or consolidation near previous highs for some time. So far this has been a very healthy trend with higher highs and higher lows. We captured some great moves. “I want to see them go to the top.”
According to a cryptocurrency strategist, he think TOTAL3 will reach its target of $640.64 billion after the Bitcoin halving scheduled for April.
Halvings, which cut BTC miners’ rewards in half, have historically coincided with bull markets in the broader cryptocurrency market.
As of this writing, TOTAL3 is trading at $462 billion.
Looking at Bitcoin, Pentoshi said he is unsure about the cryptocurrency king’s potential price action going forward as the market awaits a decision from the U.S. Securities and Exchange Commission (SEC) on several BTC exchange-traded fund (ETF) applications. However, in the long term, analysts predict that BTC will continue its upward trend.
“I did not create BTC intentionally. Post-ETF price predictions are simply unknown. Anyone who claims to know is full of shit, at least in the short term. In the long run, I believe we will move up to the right. “It’s programmed in the way fiat money and central banks work.”
As of this writing, Bitcoin is worth $43,740.
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