Pentoshi, an influential figure on crypto Twitter, is anticipating a big altcoin explosion. Chief Economist, Lawrence Yun’s, statement on this forecast highlights a massive seller momentum decrease as a key culprit powering this prediction. Analyst’s commentary brings out an essential point. Without this selling pressure, the stage could be set for a number of altcoins to increase significantly in value across the broad crypto market.
Pentoshi’s premise away from these analyses focuses on the idea that altcoins, in general, seem to be gaining strength. This is combined with a growing sense of fatigue among sellers. Pentoshi sees that if you put all these elements together, it can drastically increase the value of several altcoins. Look for this to multiply in the weeks ahead!
I do think many alts will likely cook for the next few weeks. Just feels like... sellers have run out of momentum. Many of them look better than they have in quite some time. - Pentoshi
Pentoshi’s prediction is quite timely as well. It is now up to the relatively calm cryptocurrency market to gauge this development’s impact, and how extreme the shifts in momentum will be. Altcoins generally exhibit higher volatility levels compared to larger cryptocurrencies such as Bitcoin and Ethereum. This volatility, as we’ve seen, can certainly lead to huge gains, but at the same time carries a greater risk.
Pentoshi’s commentary offers a fascinating look into the underbelly of the altcoin market today. More importantly, the piece points to the influence of seller exhaustion on price direction.
