- Pseudonymous analyst Pentoshi with 671,300 followers on Twitter predicted the Bitcoin bull market last year.
- Pentoshi has also predicted that blockchain scaling solutions like Polygon (MATIC) and smart contract protocol Avalanche (AVAX) are set for massive surges.
The crypto market has stabilized a little with Bitcoin trading at stagering $23k. In the last seven days, investors have gained about 1 percent profit on their Bitcoin investment. According to some price prediction platforms, Bitcoin is in a bearish mode as current sentiment has hit a huge low.
According to some experts, investors could make a profit off altcoins as most of them are poised for an incredible run. Pseudonymous analyst Pentoshi with 671,300 followers on Twitter predicted the Bitcoin bull market last year. Pentoshi has also predicted that blockchain scaling solutions like Polygon (MATIC) and smart contract protocol Avalanche (AVAX) are set for massive surges. He believes that these assets look bullish and could surge toward a key resistance level.
Matic is currently trading at $1.12 and is up by 10 percent in the last seven days. AVAX is also trading at $20 and is up by 13 percent in the last seven days.
This one the most important and historical spot on the chart is $1.30. Think that is a great place to focus on the next major move. If able to close three-day [chart]+ above that, then we go into the previous range. Reject and back to the local lows shown.
Pentoshi predicts that AVAX is likely to see a 36 percent surge.
AVAX prediction could be influenced by the partnership
This prediction could be facilitated by the recent partnership agreement between Amazon Web Services (AWS) and Ava Labs. The partnership is meant to assist individuals to launch and manage nodes on the Avalanche. In addition, it seeks to make the network more stronger and flexible for developers. As part of the deal, AWS will support Avalanche’s infrastructure and decentralized application (dApp) ecosystem, and also deploy one-click nodes using its marketplace.
John Wu, president of Ava Labs said:
For us, this means, a lot of things. We have over 500 applications on the chain and we would love to give them a better experience now we have a real partnership that we can direct to the Activate program. On top of that, our users are always looking for a better experience. The one-click node is an incredible way to do it.
AVAX is still 85 percent down from its all-time high of $144. In the last 30 days, it has surged by 82 percent. Crypto predicting platform Bitnation predicts that AVAX could hit a minimum of $24 this year and a maximum of $36.
Pentoshi wrote:
So Amazon comes to crypto, partners with AVAX, and then announces an NFT [non-fungible token] initiative, (but not confirmed if with Avax). They are making moves. Think this can run to $28 in the next month or so.
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Interestingly, he believes Ethereum should not be ignored as it could pull up a big surprise. According to him, the ETH/BTC is setting up for a rally. He presented a chart that hints that the asset could hit ($1,677) for ETH/BTC. Ethereum is currently trading at $1,580.91.
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