Cryptocurrency analyst Pentoshi predicts that Bitcoin (BTC) will soon reach an all-time high. Pentoshi stated that ETF approval and limited supply will increase the value of Bitcoin and warned investors not to focus on short-term price movements.

Famous cryptocurrency trader and analyst Pentoshi stated that Bitcoin is very close to reaching its historical peak. Believing that the developments in the last six months will further increase the value of Bitcoin, Pentoshi emphasized that the approval of the spot Bitcoin ETF, especially in the USA, played a critical role in this process. In his last post on the X platform, Pentoshi stated that the Bitcoin ETF is the most successful ETF in history. He also claimed that Bitcoin had wide repercussions in political circles and that various countries were holding different talks regarding Bitcoin.

The analyst added that Bitcoin's limited supply and programmable currency make it more attractive compared to central banks' unlimited ability to print fiat money. According to Pentoshi, these features will make Bitcoin more popular in the long run and increase the value of the cryptocurrency. Pentoshi emphasized that for these reasons, the future of Bitcoin is brighter than ever.

Pentoshi also gave a warning to investors who doubt the long-term potential of Bitcoin by looking at short-term price movements. He stated that investors who question their long-term theses based on hourly or daily price charts should see the big picture in BTC. The analyst noted the magnitude of Bitcoin's future potential, saying, "Eventually, where we're going, you won't need charts."

Bitcoin, which fell to 65 thousand dollars after experiencing a sharp withdrawal on July 30, is showing signs of recovery before the critical Fed interest rate decision. According to data from crypto data and price platform CoinMarketCap, Bitcoin is trading at $66,672, increasing by 0.49% in the last 24 hours. It should be reminded that the Fed's interest rate decision will be announced at 21:00 CET and expectations are that the interest rate will be kept constant.

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