Crypto analyst and investor Nicholas Merten, the next big Bitcoin (BTC) she shared her thoughts on when her correction might take place. In his recent statements, Merten says that Bitcoin’s expectations for the rest of the bull cycle are more conservative than most analysts.
The Next Correction in Bitcoin
The analyst believes that the $ 100,000 level is probably Bitcoin it says it will act as a major resistance point for and potentially trigger a significant correction if it is passed.
Merten is on the subject of, “there will be a rally towards the 100.000 dollar I don’t doubt for a second that, but I think there will be a more conservative rally, around the 100.000 dollar, there may be resistance. But if we break this level, there may be a big correction, although people don’t want to hear it.” he used his words.
In addition, Merten predicts that Bitcoin will reach the level of October 100,000 by the beginning of next year. After that, he believes that there will be a decline of 40% and a decline of 60.000 dollar levels. But although there is a big decline, the analyst believes that such a correction BTCdec March June 2019 to March 2020, there will be a less severe decline than it experienced, he says. At that time, BTC was down 56%.
“Different from Previous Cycles”
The closely watched analyst noted that this time Bitcoin has a longer, less volatile than in previous cycles the bull markethe suggests what he is going through. He thinks that BTC will end the bull market around November 2022 with a rough target of $200,000.
In Merten’s remarks, Bitcoin’s 1. he says that he can reach $ 100,000 in the quarter, then he will withdraw to $ 60,000, and then he can see $ 200,000 by entering the November cycle. In this regard, Merten, “I think this makes more sense” he’s using his statements.