A Cryptocurrency Analyst Bullish on Bitcoin and Ethereum
A widely followed cryptocurrency analyst and trader, known as Pentoshi, is expressing optimism about the future of Bitcoin (BTC) and Ethereum (ETH) as these two leading crypto assets continue to make waves in the market.
Bitcoin’s Potential Breakout Against Gold
Pentoshi, with a significant following on social media, believes that Bitcoin’s growing adoption will lead to a breakout against gold, with the flagship crypto asset potentially outperforming the traditional store of value. He highlights the limited supply of Bitcoin, with only 21 million ever to be mined, as a key factor driving this potential shift in the market.
At the time of writing, Bitcoin is trading at $104,323, while gold is valued at $3,367. Pentoshi’s analysis suggests that the Bitcoin/Gold pair has a last line of resistance at 40, indicating a potential upward trajectory for Bitcoin against gold.
Ethereum’s Positive Outlook
Turning his attention to Ethereum, Pentoshi predicts a bullish trend for the second-largest cryptocurrency by market cap. After weeks of consolidation, Ethereum could see a significant spike of nearly 30% from its current levels. The analyst points to positive developments, such as recent hints from the U.S. Securities and Exchange Commission (SEC) regarding staking, as factors that could drive Ethereum’s price higher.
With Ethereum trading at $2,472 at the time of writing, Pentoshi suggests that the $3,200 area could be in play soon, presenting a buying opportunity for investors looking to capitalize on potential gains in the market.
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