Popular Crypto Analyst Says Next Bitcoin Bull Run On Its Way, But Market ‘Not Ready Yet’ – Here’s His Outlook
Bitcoin has been trading sideways in recent days, hovering around $26,800 after a 4% drop this past week. However, according to popular analyst Pentoshi, Bitcoin is gearing up for its next bull cycle.
Pentoshi, who has over 700k followers on social media platform X (Twitter), stated that when central banks resume money printing and inflation rises, Bitcoin will be ready for another price surge thanks to its fixed supply and programmatic monetary policy.
Unlike fiat currencies which can be devalued through inflationary policies, Bitcoin’s code ensures that only 21 million coins will ever exist. This gives Bitcoin a verifiable scarcity that makes it an attractive hedge against currency debasement.
“When the printers come back to inflate away debt, and they will and always have Just remember $BTC is fundamentally the hardest asset in the world with both a programmatic monetary policy and fixed supply There’s always another cycle.” says Pentoshi.
When asked when the next Bitcoin bull run would start, Pentoshi replied “Aren’t there yet,” implying that while the macro conditions are lining up, the timing is not quite right just yet. However, many indicators suggest the next cycle is on the horizon.
Pentoshi remains steadfastly bullish on Bitcoin’s long-term prospects. As central banks continue to confront high inflation and geopolitical turbulence, investors can expect growing demand for provably scarce assets like Bitcoin. Its upcoming halving event in 2024 also promises to put further constraints on Bitcoin supply.
While short-term price action remains uncertain, Pentoshi and many other analysts view Bitcoin’s next parabolic bull run as inevitable in the years ahead. This will be driven by its unmatched qualities as a scarce digital store of value amidst a backdrop of monetary expansion.
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