Leading cryptocurrency Bitcoin (BTC) After surging as high as $45,000, it failed to stay here as expected.
The BTC price fell sharply again, especially with the threat of a possible war and the expectation that the FED would raise interest rates. BTC price as of now your $42,000 Although it is trading in gold, the bullish hopes of a famous cryptocurrency analyst are not over.
BTC Didn’t Lose Its Upside Chance
Addressing his 509,000 subscribers, the famous cryptocurrency analyst and DataDash channel host Nicholas Merten renewed hopes. Merten stated that BTC is signaling that it will experience a rally soon and that the bulls will defeat the bears again.
There is quite an interesting technical outlook going on right now and it actually shows that the bulls are leading. Don’t be fooled by the horizontal consolidation and don’t think it’s a bear market.
I want to be clear with you, what is called a bear market in the cryptocurrency industry is a drop above 50%, in the 70%, 80%, 90% band. This is the bear market for assets like cryptocurrencies.”
Stating that Bitcoin experienced serious earthquakes in 2021 and a shaky start to 2022, the analyst emphasized that the bottom point was seen despite this.
The famous analyst, in his prediction by showing the price movements on the historical chart, stated that BTC will break a record towards the end of this year. According to the analyst this year $200,000 and BTC’s total market cap could reach over $4 trillion.
This means an increase of 385%.
*Not Investment Advice.