A popular crypto analyst says that the price of Bitcoin (BTC) will reach surprising new highs within the next year.
In a new YouTube update, DataDash host Nicholas Merten told his 515,000 subscribers that despite the recent fluctuations, bulls continue to control the crypto markets.
“Of course, the market is not exciting all things considered, at least not at the moment. In fact, it is never exciting when accumulation begins to form, when a trend begins to form. The important thing to understand here is this…
If you want to wait until it’s in an uptrend to buy Bitcoin, do whatever you want. This is totally a good thing. Now I will not criticize you about whether you want to buy Bitcoin. That’s not my purpose here. What I want to focus on is an important fact that takes time, especially in this cycle or bull market where belief drives cycles up and down. We need to understand that this will take time.”
The late spring and early summer of 2021 is when Bitcoin starts to recover and has since formed higher lows (a higher low than the previous low) and higher highs (a higher high than the previous high), Merten said. stated. The analyst thinks this is a sign that the bulls are still in charge, no matter how shaky things seem.
With the bulls still in check, Merten is bullish for Bitcoin with a price target of $150,000 to $200,000 next year.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.