Analyzes and expectations about the future of Bitcoin, an important issue in cryptocurrency markets, differ among experts. On this issue, the opinions of Pentoshi and the pseudonymous analyst Kaleo attract attention.
Cryptocurrency analyst Pentoshi, who has an impressive follower base on the social media platform Pentoshi states that the SEC’s decision on these applications in just over a month carries the potential for a significant impact on the cryptocurrency markets.
A Bloomberg analyst had previously suggested that the SEC was preparing to approve all proposals for spot-based Bitcoin ETFs in January. Pentoshi believes that this process may pave the way for further rallies for Bitcoin in the coming weeks. The analyst predicts that this potential rally could lead even particularly bearish Bitcoin investors to the largest cryptocurrency.
Pentoshi’s to the analysis According to the report, if the SEC makes a positive decision for spot-based Bitcoin ETFs, this could increase Bitcoin’s market value and attract new investors. Under the influence of the Bitcoin rally, a general optimism may prevail in the cryptocurrency market and other digital assets may also be positively affected.
“BTC ETF is 40 days away. Unbelievers haven’t had a good time in recent months. It is safe to assume that we will get another big rise as time wears off. (…) Capitulation works both ways.”
Pentoshi stands out as one of the analysts who believe that Bitcoin will rise. However, Pentoshi is not the only analyst who thinks Bitcoin will rise. Analyst Kaleo also has an optimistic perspective, especially that Bitcoin will rise up to $ 45,000 in the coming days. Kaleo emphasized that Bitcoin’s $40,000 level is still an attraction point, with the chart he shared to support his expectations.
“$40,000 is still a magnet.”
On the other hand, Pentoshi, unlike Kaleo, believes that Bitcoin will likely face resistance around $42,000 as it moves above $40,000. This analyst evaluates Bitcoin’s path to this level more carefully, thinking that the rise will be limited at a certain point.
“I predict the $40,000-$42,000 area will be a bit challenging for BTC. But if you come here and keep the faith, you will do well.”
At the time of this writing, Bitcoin is trading at $39,522.
You can follow the current price movement here.