Pentoshi, a well-known analyst renowned for his accurate predictions in the cryptocurrency field, suggests that the bull market of Bitcoin (BTC) may be approaching its peak. Addressing his 822,400 social media followers, he emphasizes significant market indicators and notes that the failure of positive news to drive up prices is a critical warning sign.
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Bitcoin Price Ignores Positive News
Pentoshi explains the signs of market change, stating, “Prices will eventually stop responding to good news. This indicates that we are nearing the top.” He emphasizes the importance of monitoring such signals, as he accurately predicted the peak of the 2022 Bitcoin bull market.
Furthermore, Pentoshi asserts that market changes are inevitable in the future. He advises traders to remain vigilant, saying, “One day you will see all the signs or most of them happening together.”
Pay Attention to Coinbase and Phantom Indicators
Pentoshi also draws attention to the performance of the Coinbase app in the App Store. He claims, “Coinbase being the most downloaded app overall, not just in the finance category, is a peak signal.” He recalls that this data has provided accurate signals with a 100% success rate in previous cycles.
Additionally, he highlights the Phantom app, which reflects significant investor sentiment as users engage in crypto and NFT transactions. Pentoshi comments, “When everyone rushes in, there will be no one left to buy. Greed turns into fear.”
The relationship between price movements and investor behavior in the crypto markets is becoming increasingly evident. Pentoshi asserts that charts clearly demonstrate this emotional shift.
Whether Bitcoin’s bull market has concluded will become clearer in the coming days. However, he emphasizes that being attentive to triggers is crucial for traders.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
