The famous analyst who predicted the crypto crash in 2022 has now revealed his new target. Many investors were expecting the king of cryptocurrencies to reach higher peaks at the end of 2021 and the beginning of 2022. PlanB even made bold statements about a target above $100,000. However, Pentoshi was claiming that the bull was over back in those days. And yes, at the end of the day, he proved himself right to everyone.
The Best Crypto Commentator in the World
There is no title for being the best in the world, but considering the recent bear markets, Pentoshi can be counted among the best because he foresaw the great destruction. The popular crypto commentator had previously predicted the bull market peak in 2021 and the subsequent downturn.
At that time, many investors who do not believe in the rise were expecting the rise to continue forever. One of them was the founder of 3AC. Zhu Su, who took great risks for his dream super bull, turned the crypto market upside down with his bankruptcy last year.
Returning to Pentoshi, in his recent evaluation, he believes that Bitcoin will improve even before the next halving.
“Every day, stablecoin market value (MC) and total locked value (TLV) are being monitored.
Every day, stablecoin (MC) is decreasing, TLV is decreasing, *MOST* altcoins are in a downward trend.
When will new money come? SOON! I think BTC will start rising in the first quarter of 2024 or around that time…”
Bitcoin (BTC)
Pentoshi said that if it weren’t for the spot ETF applications and Saylor, the price of BTC would be even below $20,000 in the current conditions. Although it maintains an upward trend in the long term, Pentoshi believes, as we mentioned before, that the short and medium-term trend is bearish.
“Maybe we can see an inflated price after the ETF Delay + High CPI (Consumer Price Index) pressure. A fake rally period is possible with the expectation of an ETF. It has nothing to do with hope. My job is all about paying attention. Have you looked at energy in the last six weeks? Oil has increased by 24%, which causes everything to rise. We will see the pressure of inflation either this month or next month. The Fed is also showing hot pressure now.”
At the time of writing, BTC was finding buyers at $29,100.
