1. Pentoshi, a #Trader known for accurately timing Bitcoin's past #market movements, foresees a significant upward surge for BTC around Q1 2024, coinciding with capital leaving the market and the upcoming #Bitcoin #halving in April 2024.
2. Current Bearish Outlook:** Despite the #bullish projection, Pentoshi currently holds a bearish stance on BTC due to macroeconomic factors such as rising inflation driven by oil market rallies and the expected delay in regulatory approval for a spot-based Bitcoin exchange-traded fund (ETF).
3. **ETF Approval Catalyst:** Pentoshi suggests that a correction in BTC's price could occur due to these factors, but envisions a potential strong rally after regulators approve a Bitcoin ETF, possibly following a dip caused by ETF delay and a significant consumer price index (CPI) print.
