According to top analyst Nicholas Merten, the Bitcoin bull market will end at this point

Leading crypto strategist Nicholas Merten predicts when Bitcoin’s bull market will peak.

In one Video New, Merten told its 463,000 subscribers that the benchmark cryptocurrency is apparently still a long way from the top of this cycle in light of Bitcoin’s past bull markets.

“Bitcoin had 4 bull cycles in 11 years of price history … What is really interesting is that the next bull cycle is 11 months to 13 months longer than the previous one. So if history rhymes, the current bull cycle could be extended for another 17 months. Forty-seven months is the expected length of this cycle, and November 2022 could be the right time for Bitcoin to peak. “

BTC / USD Monthly Chart | Source: Nicholas Merten

While many crypto investors and traders lost interest in the market when Bitcoin entered a sideways phase, Merten added there isn’t much to suggest that Bitcoin has peaked.

“Everyone’s lost interest now because the market is a lot quieter … when you’re here, you will likely act like an audience.”

While he doesn’t think Bitcoin has peaked this cycle, Merten warns viewers that Bitcoin continued to experience sharp swings, with wide-spread ups and downs, as more people enter the market, and more specifically continue to trade with leverage. He warned that this move could mislead those in the world into believing that BTC has peaked, but in reality it is still far from its peak.

“Is this really the climax of a cycle or are we just overdoing it? As more and more people use leverage to trade derivatives platforms, distortions, exaggerated rallies and steep corrections will persist. “

SN_Nour

According to Dailyhodl

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