Pentoshi, a successful crypto analyst, offered an unusual perspective on the future of Bitcoin. Traditionally, Bitcoin investors often watch price charts and short-term trends closely and focus on short-term profits. However, Pentoshi claims that this limited perspective is no longer sufficient for Bitcoin to reach its true potential.
According to Pentoshi, relying solely on technical analysis when evaluating the value of Bitcoin prevents us from seeing its true potential. According to him, Bitcoin’s value lies not only in price charts but also in macroeconomic factors, global financial trends and technological innovations.
For example, the Bitcoin exchange-traded fund (ETF) makes cryptocurrencies easier accessible to institutional investors. This encourages the adoption of Bitcoin by a wider range of investors and positively affects its price in the long run. In addition, central banks’ constant printing of money and global economic uncertainties also increase the value of Bitcoin as a safe haven.
According to the analyst, this changing perspective on Bitcoin is a key factor that will enable investors to achieve long-term success. Instead of focusing only on short-term price movements of cryptocurrencies, they need to see their long-term potential.
“I think the right way to look at crypto is to expand your time horizon, rather than always trying to reach the top right now. The BTC exchange-traded fund (ETF) was the most bullish ETF in history. Corporates loved it, people wanted it and didn’t know how to buy it. With a better user interface, it will become easier to use and more people will participate. Central banks will print money, they always have and they have shown they cannot stop. So, no matter what happens, in theory this should shift up and to the right over any extended period of time. When Covid emerged, I initially thought that such disasters would never happen again, and maybe they wouldn’t. But what happened was a generational mindset shift where people were going online more, gambling more, and in the current world system that might be the only way out. So stop looking for the highs, zoom out and think about where it’s going ten years from now. “It will go higher.”
In conclusion, Pentoshi’s analysis offers a glimmer of hope for the future of Bitcoin. Going beyond the charts, evaluating cryptocurrencies from a broader perspective can help investors achieve long-term success and further increase the value of Bitcoin.
Pentoshi also examines the TOTAL3 indicator, which tracks the total market value of all crypto assets excluding Bitcoin, Ethereum (ETH), and stablecoins. A chart showing the altcoin market is poised for gains after breaking through a key resistance level, analyst says shared.
“We haven’t seen anything yet in terms of altcoins. “The important thing is when it will happen, not whether it will happen.”
You can follow the current price movement here.
