Pentoshi Shifts Buying Focus To Bitcoin Instead Of Altcoins For Now

A top crypto analyst and trader, known as Pentoshi, is altering his crypto investment strategy as macro factors bring in new variables.

Pentoshi shared with his 522.5K followers on Twitter that he’s currently focusing his crypto investments in (BTC), while being hesitant on Ethereum (ETH) and altcoins.

“The thing that makes me hesitant on ETH is this and why I’ve had my BTC focus for months.

300-day consolidation inside this triangle. FWIW (for what it’s worth) used this same chart for 2 years now. BTC can solo rally where alts lag bad. They are already.

A painful memory from 2017-2018 lingers.”

https://twitter.com/Pentosh1/status/1498460553785790469

Pentoshi explains that he is waiting for BTC to move back to its January level of $47,292 before he taking another look on the strategy.

“Want to state, March is a month of massive variables. So I think day-to-day approach is best.

There is a lot going on in the world right now. It’s anyone’s guess. I’m leaning towards yearly open still, but after that it’s wait and see.”

https://twitter.com/Pentosh1/status/1498446692089311235

He also talks about factors that make it very difficult to make any predictions ahead as we move further into March.

“Now that we are going into March. Looking ahead we have:

FOMC (rate hikes)

War potential for escalation

(El Salvador‘s) Volcano Bond

My expectations this month? I have no clue.”

https://twitter.com/Pentosh1/status/1498450548261101570

The analyst notes that while he picked BTC over ETH for now, it’s likely that he takes another look to buy ETH very soon.

“I ended up buying BTC instead of ETH.

IMO (In my opinion) it was the right decision to focus on Bitcoin over alts. But I think it’s time to probably look at ETH in the short term.”

https://twitter.com/Pentosh1/status/1498433442886868995

At time of writing, BTC is trading at $43,750, down 0.84%, while ETH is trading $2,926, down 0.11% on the daily trading window.