- Popular trader on Twitter says “BTC bottom is close but the top is likely a number you can’t comprehend.”
- In his tweets, he described the broad state of Bitcoin at the moment and how he eyes $37K as its potential bottom.
- However, the trader emphasizes that the upcoming BTC bottom “is unlikely to be there long.”
Thoughts on $BTC FA + TA
A year ago #Bitcoin was trading at 10k. A few short months later it’d trade at 64k. A lot has changed since then, the 1st country adopted it, the first banks plan to offer it. Mass adoption begun
What can we expect over the next 12 months? pic.twitter.com/K2n4pz5xFD
— 🧸🔫🐧Pent◎shi Wont DM You (@Pentosh1) September 25, 2021
To clarify, reports show a significant dip in BTC overnight. Here, sellers showed persistent attempts of flipping it back up.
In the figure above, you can see how the value of BTC drastically dipped. As seen, BTC sealed another $40,000, as the battle for the weekly close took place. It is obvious how sellers exerted effort in keeping BTC’s value afloat.
While this might be a pressing issue, analysts actually focus on what would happen afterwards. Experts remain bullish on what’s going to happen next.
With this, Pentoshi predicts that BTC bottom is close and its price could hit $37,000 as its potential floor. However, even though he said the bottom might be at this value, he emphasized that “it is unlikely to be there long.”
Pentoshi also stressed that,
The bottom is closer than you think, and the top is likely a number you can’t comprehend at this time.
He also added that next year, people can see more countries adopting Bitcoin, expect multiple ETF approvals, and more publicly-traded companies adding BTC. In other words, for him, Bitcoin adoption will be much evident and extensive next year.
Furthermore, Pentoshi says that in his opinion, “BTC will go to a new ATH and the cycle will repeat itself and leave altcoins into dust, which will, in turn, attract new retail participants.
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