Prominent cryptocurrency trader Pentoshi, boasting a substantial following of over 702,300 on a major social media platform, has made a bold prediction regarding the future price of Bitcoin. This forecast arrives amidst mounting speculation surrounding the possibility of the US government resorting to increased money printing to manage its staggering $33.523 trillion debt and combat inflation.
Pentoshi, renowned for his precise prediction of the conclusion of Bitcoin’s 2021 bull run, is now envisioning a parabolic ascent in the price of the leading cryptocurrency. He asserts that Bitcoin could potentially achieve an unprecedented high of $180,000, signifying an astonishing surge of approximately 570% from its current market value of $27,855.
The cryptocurrency expert attributes this anticipated surge to Bitcoin’s programmatic monetary policy and its immutable supply. He contends that these factors will exert significant influence, especially considering the ongoing uncertainty surrounding the Federal Reserve’s deliberations on rate cuts and the looming specter of stagflation.
In addition to these pivotal factors, Pentoshi vigilantly monitors the Bitcoin versus M2 money supply chart, an indispensable indicator of global liquidity. He contends that an escalation in M2, which denotes the broader money supply, frequently heralds the onset of a bullish Bitcoin market. His recent analysis suggests that a substantial breakout in Bitcoin’s performance relative to M2 might be on the horizon.
Nevertheless, it is imperative to note that the precise timing of this projected surge remains uncertain and primarily hinges on the Federal Reserve’s decisions concerning interest rate adjustments. Consequently, investors and market observers are advised to maintain a vigilant watch on developments in US monetary policy and global liquidity indicators.
