HomeAltcoinAnalyst Nicholas Merten Predicts An Epic Bitcoin And Crypto Crash Later This...

Analyst Nicholas Merten Predicts An Epic Bitcoin And Crypto Crash Later This Year – This Is His Perspective


A widely followed crypto analyst is issuing a warning to investors, saying he believes the asset class could suffer a widespread collapse later this year.

In a new video update, DataDash host Nicholas Merten tells his 512,000 YouTube subscribers that betting on the Federal Reserve to once again revive crypto markets by turning on money printers is not a good bet.

“The worst time to go in is when you have false hopes that the Fed might just print massive amounts of money, and unfortunately I know a lot of people have gotten excited about QE (quantitative easing). ) passing, but it is not enough to stimulate another bull market. The fact that the Federal Reserve has continued to raise interest rates over the last month is a sign that [the] The Fed will continue to do its job, it is doing the bare minimum.”

According to Merten, the crypto market is about to face a crucial test and if it fails, the total market capitalization of the industry could suffer an epic setback.

“Just to summarize for Bitcoin, for crypto, for total market capitalization as well, we can see [that] we are getting into that potential resistance band, which again has not been broken since January, that will be a real test here for the market, and we believe that we are going to go lower and actually achieve that typical 85% correction. [from the all-time highs].”

Source: Data Dashboard

The analyst urges traders to be patient as such a decline would take the total market capitalization to a zone that has historically acted as its support.

“[$390 billion] would be an ideal support range for full market cap, removing a lot of noise in the altcoin space, looking for new market leaders [and] trends, that’s the long-term game. We have to be patient.”


Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox

Check Price Action

follow us TwitterFacebook and Telegram

Surf The Daily Hodl Mix

Check the latest news headlines


Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia


Quant Analyst PlanB Says Bitcoin Bull Market Is Underway, Predicts BTC Will Outperform Major Asset Classes

Closely watched quant analyst PlanB says Bitcoin (BTC) is now on track to expand by trillions of dollars to compete with some of the largest...

Bitget Reinforces Its Leadership In Smart Cryptocurrency Trading With Rebranding Initiative

Bitget, a leading crypto derivatives and copy trading platform, announced a rebranding initiative on July 25, 2023, with the aim of reinforcing its position as...

Coinbase vs. SEC: Key dates and details for upcoming court hearings

The legal battle between Coinbase, a major cryptocurrency exchange, and the United States Securities and Exchange Commission (SEC) has reached a significant milestone. Hearing...

Benjamin Cowen Issues Cardano Warning, Says ADA Repeats Hard Times of 2019

Widely followed crypto analyst Benjamin Cowen warns that Ethereum (ETH) rival Cardano (ADA) is repeating a downward pattern from 2019. In a new strategy session, Cowen...

Most Popular