Famous analyst Nicholas Merten drew attention to the potential for a 63% decline in Bitcoin and its reasons.
Analyst Nicholas Merten said in a recent YouTube video that Bitcoin is at its current price. 63% experiencing a decline 10 thousand He stated that it could decrease to USD.
Merten predicts that Bitcoin will enter a falling channel starting in 2021. in the accumulation zone He stated that:
The point we need to pay attention to is that we can go down to around 10 thousand dollars, which is much lower than these levels. I know it sounds crazy.
Factors that will trigger the decline
Merten also USA Central Bank (FED) because of their monetary policies Do not reduce the amount of money in the cryptocurrency market even furtheri and a possible recession Bitcoin Among the factors that may trigger the decline showed:
Bitcoin has never been in a recession before and liquidity is really low in the market right now. You should be modest in your expectations.
Analyst, this is a bear scenario may be possible, but based on low liquidity There is some truth to it told.
ATH will not come in Bitcoin
On the other hand, Merten said that Bitcoin to all-time high (ATH) The biggest factors that lead to won’t be coming back anytime soon stated:
I know that Bitcoin has achieved an extraordinary movement in the 10-year period from 2010 to 2021. However, at that time, FED’s policies supported Bitcoin rises.
According to CoinGecko data, Bitcoin experienced the last 24 hours. down 0.3% while writing 26,970 dollarIt is traded from.