Popular crypto strategist Nicholas Merten doesn’t think the crypto markets are ready to peak in 2021. The analyst predicts that the bull market will continue. Details are here.
The trader told 470,000 YouTube subscribers that other crypto enthusiasts believe the current cycle will end soon as Bitcoin (BTC) hits $100,000 by the end of the year. But Merten claims that market cycles are “maturing and lengthening”, estimating that the current cycle will last until November or December 2022 at the earliest.
“I think it’s a very reasonable form of play, and that’s asking for a $10 trillion market cap: 5x (5x) from here. I think 5x is a pretty welcome request in this case, and it’s a reasonable amount of time for that new price boost as crypto has really reached the mainstream and got institutions on board.”
The total crypto market cap is currently around $2.15 trillion. If Bitcoin’s market share in the crypto space remains stable, a 5-fold increase could mean that the top cryptocurrency could hit over $200,000 by the end of next year.
Merten also predicts that the overall market cap will gain some momentum “in the coming months” as the crypto’s “bull market is in full swing.”
“The important thing is altcoin market cap rise… This is a guarantee for me that we are not in a bear market right now. This is altcoin dominance.”
Finally, the top crypto asset by market cap is trading at $45,261.73 at the time of writing, down 14% from last week, according to data from CoinGecko.
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.