Analyst Called Bitcoin Bullish in the Long Term: But It Could Fall to These Levels!

Analyst Pentoshi stated that despite the recent price stagnation, the long-term upside potential of Bitcoin (BTC) is very high.

Famous cryptocurrency analyst Pentoshi, in his post on Twitter, states that he is bullish for Bitcoin in the long term, but the price may see a significant correction before it goes up.

Stating that the price of 48 thousand to 51 thousand dollars for Bitcoin is on the table, the analyst said that the current macro economy outlook shows that the US Federal Reserve (FED) will reduce interest rates and begin to loosen monetary policy.

Such situations generally indicate a bull market in risk assets such as Bitcoin.

On the other hand, the analyst emphasized that Bitcoin may experience parabolic increases due to the influence of exchange-traded funds (ETFs) and countries such as El Salvador.

In parallel with these rallies, it was stated that Bitcoin's upside potential is unlimited in the long term.

According to CoinGecko data, Bitcoin price is at $60,570 at the time of writing.

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