Well-known crypto trader Pentoshi, who has a following of over 702,300 on a major social media platform, has predicted a significant surge in the price of Bitcoin. The forecast comes amidst speculation over the US government's potential reactivation of money printing to manage its $33.523 trillion debt and control inflation.
Pentoshi, recognized for accurately predicting the end of Bitcoin's 2021 bull run, expects a parabolic rise in Bitcoin's price. He suggests the price could reach an unprecedented high of $180,000, marking a surge of approximately 570% from its current market value of $27,855.
The crypto specialist attributes this potential surge to Bitcoin's programmatic monetary policy and fixed supply. He believes these factors will be particularly influential given the uncertainty surrounding Federal Reserve's rate cuts and the looming risk of stagflation.
In addition to these factors, Pentoshi is closely monitoring the Bitcoin versus M2 money supply chart, a crucial indicator of global liquidity. He argues that an increase in M2 or global liquidity often signals the start of a Bitcoin bull market. His recent analysis suggests that a significant breakout of Bitcoin against M2 could be on the horizon.
However, the exact timing for this projected surge remains uncertain and largely depends on when the Federal Reserve decides to enact rate cuts. As such, investors and market watchers are advised to keep a close eye on developments in US monetary policy and global liquidity indicators.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.