The crypto strategist, who correctly predicted the end of the Bitcoin (BTC) bull market in 2021, pointed out a crypto sector that he thinks may outperform in the next bull market.
The analyst, known by the pseudonym Pentoshi, believes that the crypto gaming industry will see big gains in the next bull cycle. believes. According to Pentoshi’s prediction, blockchain-based games have the potential to make big profits in the next bull market. These games can accelerate the adoption of cryptocurrencies by enabling players to interact with digital currencies and increase the value of their digital assets.
Pentoshi’s prediction stems from the idea that blockchain-based gaming could accelerate crypto adoption:
“I believe the gaming industry will provide the most positive outcome in the next bull run. It is something that is easy to understand and digest, and that almost anyone from any culture can relate to. Most people don’t care about 99% of what crypto projects are trying to solve.”
Blockchain-based games have become a trend that has rapidly gained popularity in recent years and has significant potential in the industry. These games have the potential to accelerate the adoption of cryptocurrencies and breathe new life into the ecosystem.
In addition, the strategist took a detailed look at the altcoin markets, which he said could witness sideways price movements for months, even after last year’s brutal bear market. Pentoshi seems to have used the TOTAL3 chart, which tracks the market value of all crypto assets except Bitcoin and Ethereum (ETH) in his analysis.
Couldn’t have drawn this any better from the bounce to the new low to the sideways time based capitulation
I think we still have around a year left or so of chop for most #alts as we sit around 2018 levels, most gave back all their gains from 2022 lows
Stated multiple times,… https://t.co/2Yz6ckMlfU pic.twitter.com/UFiGDPhpuZ
— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) May 20, 2023
According to the analyst, most altcoins are still at 2018 levels and most of their 2022 gains have been wiped out. For this reason, Pentoshi argues that we have a year or so to save.
You can follow the current price action here.