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Here’s a Realistic Price Prediction for Bitcoin This Cycle, According to Crypto Analyst Nicholas Merten

by Daily Hodl Staff
October 20, 2021
in Bitcoin, Trading

With Bitcoin nearing its all-time high, popular crypto trader Nicholas Merten is taking a look at where the leading digital asset could go next.

BTC is trading at $64,077 at time of writing, up more than 11% over the past week and nearly 33% in the past month, according to CoinGecko. The largest crypto asset by market cap hit its all-time high of $64,804 back in mid-April.

In a new strategy session, Merten tells his 474,000 YouTube subscribers that Bitcoin is “pretty much inevitably” set to cross $65,000.

“I think at this point everyone’s pretty confident that we’re no longer in a supposed bear market.”

The analyst says a “conservative estimate” based on the history of Bitcoin’s market cycles predicts BTC reaching a $4 trillion market cap by November 2022. Bitcoin’s current market cap is more than $1.2 trillion, and a $4 trillion market cap would bring BTC’s price point to around $200,000.

Merten, however, says it’s possible that a price surge could actually materialize a lot sooner.

“If we were to get a more optimistic expectation here, I would say we’re still going to see a 250% return in the most optimistic scenario, but in a matter of just a couple months, going into Q1 or early Q2 of 2022.”

Regardless of the timeline, the analyst predicts the overall value for cryptocurrencies will be $10 trillion by the end of this cycle. The cryptocurrency overall market cap currently sits at more than $2.6 trillion, according to CoinGecko.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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