A popular crypto analyst said after the markets entered the weekend with a negative mood. Bitcoin (BTC) It revealed what the worst-case scenario could be for
Posting strategy sessions on his YouTube channel Nicholas MertenCommented on the massive selling pressure seen in digital assets after the Federal Reserve raised interest rates.
“I want to go a little further than the discussion here and talk about what the worst case scenario could be for us. To be frank, I will be confident again. Yes, maybe I’m saying this again and I’m wrong again, but further decline doesn’t make much sense to me, there is still a limit to me and I’m confident. At the end of the day, we will see people buying again and prices going up again.”
While Merten cannot pinpoint the exact date of the process or how long it will take, he continues to say that his intention is to provide a reasonable BTC valuation range so that viewers can average cost (DCA) when establishing their positions. He noted that the cumulative market cap of Bitcoin and Ethereum (ETH) has dropped below $900 billion, while this figure is currently $1.1 trillion.
Merten, even after significant falls bitcoin priceHe shared a result comparing previous cycle peaks and corrections to show that the .
“To wrap it up, we could visit the $30,000 levels as we approach these levels. However, it doesn’t make much sense to think that we will go below this level and see $20,000.”
At the time of writing, Bitcoin has lost 1.22% in the last 24 hours and was trading at $36,036. BTC is down 9.6% from its weekly high of $39,874 on Wednesday.
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.