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Pentoshi, a strategist known for his insightful analyses in the cryptocurrency market, predicts a rise in Bitcoin 
$83,438 and altcoins. Gaining recognition in 2021 for accurately forecasting the market’s peak, Pentoshi indicates that the current technical data suggests the market could gain momentum. He specifically notes that movements within the OTHERS index may reflect positively across the broader market.
Pentoshi’s Assessment of the OTHERS Index
The strategist emphasizes that the OTHERS index is approaching significant levels. This index represents the market value of cryptocurrencies outside the top ten and stablecoins. According to technical analyses, a breakthrough past the $281 billion resistance level is anticipated.
Pentoshi advises that investors should monitor movements around the $250 billion mark. This level is seen as a support position, and if it breaks upward, a potential rise toward the $320 billion level could occur. The $320 billion level is regarded as a partial exit point.
Bitcoin Maintains Strong Performance
Despite negative news flow in the market, Bitcoin continues to maintain a robust position. Pentoshi points out that Bitcoin has exhibited remarkable performance, asserting that its price movements show a solid structure.
Currently, the total value of the cryptocurrency market stands at approximately $3.134 trillion. The OTHERS index is trading at $271.46 billion, while Bitcoin’s price hovers around $96,228. Pentoshi shares the opinion that the market could reach $4.42 trillion within this quarter.
Analysts indicate that technical indicators point to an upward trend, urging investors to closely monitor critical levels. However, they also caution that market volatility must be considered.
