2 Essential Catalysts Will Take Bitcoin To New ATHs

2 Essential Catalysts Will Take Bitcoin To New ATHs

The fact that Bitcoin is on its way to new ATHs has been discussed for a while now, as strange as it may seem if we consider the latest geopolitical situation.

Now, there’s a popular crypto strategist who outlines a path for a strong Bitcoin breakout that will take the king coin to new ATHs.

Bitcoin to break new ATHs

Pseudonymous crypto analyst Pentoshi said just recently that he sees a potential scenario where Bitcoin continues to print bullish higher low setups and ignites a parabolic rally to $72,000.

“Instead, I now offer an alternative. I believe we should change direction and head for option two.”

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $39,056.

He said that BTC could receive an influx of demand in the coming weeks and this could be a factor that could trigger a massive price rise.

Two main catalysts for BTC price rise

The crypto strategist also said that another catalyst for a Bitcoin rally is the intention of Ethereum competitor Terra (LUNA) to buy around $1 billion worth of BTC to add to its reserves.

“My boy Do Kwon about to add $1.2 billion worth of BTC to their reserves. I’d guess, starting next week.”

Another catalyst that can send BTC to new all-time highs, according to Pentoshi, is El Salvador’s plan to buy $500 million worth of BTC through its Bitcoin bonds.

“Man, what if a country, like, totally buys $500,000,000 worth of BTC in the next weeks and then like, used the rest to mine it off a volcano and had this city, a Bitcoin city…”

Despite the geopolitical tensions, there are all kinds of optimistic crypto price predictions these days that say that BTC will soon reach new ATHs. Stay tuned for more news, and make sure to keep your eyes on the market.




Leave a Reply

Your email address will not be published. Required fields are marked *