A trader who called the end of the Bitcoin (BTC) uptrend in 2021 says he’s keeping a close watch on one crypto sector that he thinks can outperform in the next bull market.
Pseudonymous analyst Pentoshi tells his 691,100 Twitter followers that he believes crypto’s gaming sector will see big gains in the next bull cycle.
Pentoshi says his thesis stems from the idea that blockchain-based gaming could accelerate the adoption of crypto.
“I strongly feel that gaming will provide the most upside next bull run. It’s something almost anyone from any culture can relate to that’s easy to understand and digest.
Most people don’t care about 99% of what crypto projects pretend to solve.”
Pentoshi goes on to say that he’s looking to invest millions of dollars in the crypto sector.
The crypto strategist is also keeping an eye on the altcoin markets, which he says could still witness months of sideways price action even after its brutal bear market over the past year.
“Couldn’t have drawn this any better from the bounce to the new low to the sideways time based capitulation
I think we still have around a year left or so of chop for most alts as we sit around 2018 levels, most gave back all their gains from 2022 lows
Stated multiple times, this would be more of a year for accumulation vs. trend based outside isolated trends.”
Pentoshi appears to be looking at the TOTAL3 chart, which tracks the market capitalization of all crypto assets excluding Bitcoin and Ethereum (ETH).Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Denis Maliugi/Baroeki Std