Here is Bitcoin’s price at $ 200,000 which, according to KOL Nicholas Merten, could cause many investors to miss it
Analyst Nicholas Merten outlines a potential price path for Bitcoin that could see a 4-fold jump to $ 200,000.
In one Video Recently, the host of crypto channel DataDash said that BTC will climb to $ 200,000 sometime in late 2022.
“As you can see from the expansion cycle theory, Bitcoin expands about once a year. It previously had a year-long bear market, adding around 13 to 11 months to each cycle.
If this cycle is the same, Bitcoin will face previous averages for another 12 months. Bitcoin is well on the way to hitting a parabolic target of $ 200,000 by 2022. ”
Bitcoin’s arduous journey to $ 200,000 could mean some investors miss out on profits, Merten said. He said Bitcoin must take more losses and make another correction towards the $ 30,000 mark before it really goes up.
“The idea is that the price fall and retest the range of $ 30,000 to $ 35,000, consolidate and then recover, retest the previous all-time high, break out and climb to around $ 80,000- $ 85,000, pillback, creation a margin of support, and then, indeed, there was a manic rally.
The market has already experienced this several times. If there are rallies in the market, if the price breaks the all-time high, it will rise higher to the high. ”
Source: Nicholas Merten
When Bitcoin corrects, the analyst predicts the most painful bear market possible. According to him, crypto investors are likely to turn to Ethereum instead of cash, leading to a booming altcoin season.
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Here is Bitcoin’s price at $ 200,000 which, according to KOL Nicholas Merten, could cause many investors to miss it
Analyst Nicholas Merten outlines a potential price path for Bitcoin that could see a 4-fold jump to $ 200,000.
In one Video Recently, the host of crypto channel DataDash said that BTC will climb to $ 200,000 sometime in late 2022.
“As you can see from the expansion cycle theory, Bitcoin expands about once a year. It previously had a year-long bear market, adding around 13 to 11 months to each cycle.
If this cycle is the same, Bitcoin will face previous averages for another 12 months. Bitcoin is well on the way to hitting a parabolic target of $ 200,000 by 2022. ”
Bitcoin’s arduous journey to $ 200,000 could mean some investors miss out on profits, Merten said. He said Bitcoin must take more losses and make another correction towards the $ 30,000 mark before it really goes up.
“The idea is that the price fall and retest the range of $ 30,000 to $ 35,000, consolidate and then recover, retest the previous all-time high, break out and climb to around $ 80,000- $ 85,000, pillback, creation a margin of support, and then, indeed, there was a manic rally.
The market has already experienced this several times. If there are rallies in the market, if the price breaks the all-time high, it will rise higher to the high. ”
Source: Nicholas Merten
When Bitcoin corrects, the analyst predicts the most painful bear market possible. According to him, crypto investors are likely to turn to Ethereum instead of cash, leading to a booming altcoin season.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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