Popular crypto analyst Nicholas Merten, Bitcoin He warned that the price will remain in a downward cycle for a while.
Nicholas MertenHe says that shrinking market liquidity due to the hawkish stance of the Federal Reserve will likely keep BTC in a downward trend despite the bullish expectation in cryptocurrencies.
So how will Bitcoin reach its all-time high? I know some people will say ETF or de-dollarization, BRICS or Bitcoin bank run – all these narratives are sunk…
We were one of the few channels talking about how we weren’t ready yet. This does not mean that everything will definitely collapse today. This does not mean that the Bitcoin price will drop to $15,714. This is not what we mean.
NEWS CONTINUES BELOWHowever, when we say that things will fall, we think that a movement will begin and the “bears” will become stronger. As a result, many people will be liquidated and lose their capital. They will lose this capital and much of the excess money that is still causing inflation in the system will be cleared and taken away from ordinary people. We will go through a difficult period. That’s the way things are, friends. The Fed has a job to do.
As Koinfinans.com reported, Merten believes that stocks, as well as Bitcoin and altcoins, are heading for a market correction due to challenging macroeconomic conditions.
We should spend some time talking about the calm before the storm. I believe we are on the verge of a major move here, not just in Bitcoin and altcoins, but in the broader asset markets as well. Many macro uncertainties are finally emerging from beneath the surface…which could potentially cause a lot of pain in the economy.