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Famous cryptocurrency trader and analyst Pentoshi claimed that Bitcoin (BTC) reaching its all-time high is imminent. Pentoshi, who believes that developments in the last six months will further increase Bitcoin’s value, emphasized that the approval of a spot Bitcoin ETF in the US played a significant role in this process.
“Bitcoin’s Future is Brighter Than Ever”
In his latest post on his personal X account, Pentoshi stated that the Bitcoin ETF is the most successful ETF in history. The analyst also suggested that Bitcoin has made a significant impact in political circles and that multiple countries are engaging in various discussions about Bitcoin.
The analyst added that Bitcoin’s fixed supply and programmable currency feature make it more attractive compared to central banks that continue to print infinite amounts of fiat money. According to Pentoshi, all these features will become more noticeable in the future and will increase the long-term value of the largest cryptocurrency. The analyst emphasized that for all these reasons, Bitcoin’s future is brighter than ever.
Warned Investors: Do Not View Bitcoin in the Short Term
Pentoshi also issued a warning to investors who doubt Bitcoin’s long-term potential based on short-term price movements. He stated that investors who question their long-term theses based on hourly or daily price charts should focus on the bigger picture of BTC.
The analyst emphasized Bitcoin’s future potential by saying, “In the end, where we’re going, you won’t need charts.”
On July 30, the largest cryptocurrency, which sharply retreated and fell to $65,000, is showing signs of recovery ahead of the critical Fed interest rate decision. According to data provided by the crypto data and price platform CoinMarektCap, Bitcoin is trading at $66,672 with a 0.49% increase in the last 24 hours. At this point, it should be noted that the Fed’s interest rate decision will be announced at 21:00 GMT, and expectations are that the interest rate will be kept unchanged.
