A widely followed crypto analyst says the odds are in favor of one more major move to the upside for digital assets before the market cycle concludes.
The pseudonymous trader known as Pentoshi tells his 850,000 followers on the social media platform X that there’s a one in four chance that the crypto market cycle is over.
The trader notes that he’s leaning towards the total market cap of all digital assets to reach the $4.2 trillion mark, about 26% higher than current levels.
“I think maybe 25% odds the cycle is over and those calling it are correct.
I think 75% odds we at least have one more macro leg up.
In any case, the market has given us chances to buy the previous all-time high (high time frame supports for many altcoins) and many majors.
There’s also a clear invalidation where if we traded below the previous all-time high, then yes, it’d likely be a time to reconsider.
For now, it’s hard to look at this and think the market as a whole is in a bearish spot.
What likely has happened is most people were in memes. With no exposure to BTC or even Solana. Lost a lot. And now believe the entire market is bearish. Where BTC + RWA (real-world assets) have been stronger
We trend up. Consolidate/ chop. People trade it like a trend. And get chopped. Just how I view it currently.”
Looking at Ethereum (ETH) – often viewed as a bellwether for incoming strength in the altcoin market – Pentoshi says that a “slow shift” is unfolding that will lead to ETH going back to its recent highs at around $4,000.
“What seems impossible now, will be considered a guarantee later in my opinion.
I don’t think ETH looks as bad as people claim currently.
There’s a slow shift taking place, but I do think it’s happening.
Weeks of downtrend can be erased in days.
Back to the highs.”
At time of writing, ETH is worth $3,099.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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