The famous cryptocurrency analyst who spoke in his latest YouTube video, where he shared his comments on the general state of the crypto market Nicholas Mertennoted that the crypto market is undergoing a long-term consolidation. But according to Merten, top investors are often bullish, and once fear subsides, the price of crypto assets will eventually rise.
Market sentiment has shifted from “fear” in December to “extreme fear” this month, according to the crypto fear and greed index, which could pose problems for crypto traders who are trading overly leveraged.
While bearish sentiment is still present in the market, it is clear from most of the leading indicators that we should see the final flush. We need people to be in the hyper-leveraged long positions where they either get liquidated or flip a coin.
Merten predicts that long-term investors will take advantage of the bear market to increase their assets, while investors with short positions may face liquidation of their assets.
“Long-Term Investors Will Profit!”
Believing that while many investors are piling up in short positions, whales will take advantage of this situation and make serious purchases, the analyst stated that emotional traders will fuel the price action that institutions like to buy. Saying that this will benefit whales and big companies the most when such investors are afraid, Merten advised 496,000 YouTube subscribers to wait for a long time in his related video.
On the other hand, the value of the overall crypto market CoinMarketCap According to the data, it has decreased to 1.85 trillion dollars and the general downward trend continues.