Bitcoin (CRYPTO: BTC) is about to break out temporarily and leave altcoins in the dust, according to a closely-followed pseudonymous cryptocurrency trader known as Pentoshi.
What Happened: Pentoshi told his 284,000 followers on Twitter that Bitcoin’s temporary break out will also lead to new all-time highs and bring in new participants. He clarified that while he is a trader in altcoins — that are cryptocurrencies other than Bitcoin — he believes the alt season will end soon.
few understand. Q4 last year alts were at atl’s vs $BTC
The day it hit that bottom line which I posted months in advance is the day the market topped. Soon #bitcoin will break out temporarily turning alts to dust which in turn will lead to new ath’s + bring new participants https://t.co/a8APzo5xFk pic.twitter.com/vd5cjafKwu
— Pent◎shi Wont DM You (@Pentosh1) September 27, 2021
See Also: How To Buy Bitcoin (BTC)
Pentoshi also said the price of Bitcoin is showing strength on fear, uncertainty and doubt (fud) amid the regulatory crackdown in China.
I thought $BTC was suppose to dump hard this weekend bc China?
Are we watching the news or are we paying attention to what price is doing at this key MACRO spot that is so fucking clearly defined a blind person could read it
Price showing strength on fud
37-30k bottom 45k Res pic.twitter.com/f68xm6UcNM
— Pent◎shi Wont DM You (@Pentosh1) September 26, 2021
Let me clarify something here. I’m an alt trader. I will still trade alrs. Some will still out perform.
In the event I’m wrong there’s a clear invalidation (new lows)
People think it can’t happen and they’ve thought that in every cycle since alts began. Season = not year round