Bitcoin Accumulation Phase: Nicholas Merten Talks About A Once-In-A-Lifetime Opportunity | CryptoGazette
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The crypto market has seen a recent correction, and this led a lot of investors to believe that there will be a massive opportunity ahead to stack some coins. Check out the latest reports revealed by Nicholas Merten about all this.
New Bitcoin prediction is revealed by Merten
Merten recently said that Bitcoin (BTC) will not hit a low last recorded in July of 2021.
In a new video update, Merten made sure to explain that while the king coin could still see a price drop, Bitcoin is unlikely to dip to around the $30,000 price.
“The big question that a lot of people have in their minds is whether or not this is going to go all the way back down and see some calamity, some crazy sell-off, down to the $30,000 range.”
He continued and pointed out the following:
“And I’m going to be honest with you all – all the while it’s not to say we couldn’t pull back maybe another $1,000 or so in price – I do not think we’re going down to that $30,000 range. And I’ll stand by that.”
According to the crypto analyst, the declining supply of Bitcoin as well as its tendency to set bullish higher low setups are the catalysts for which the king coin is unlikely to plunge to around $30,000.
“Bitcoin has been continuously setting at higher lows over time. I know a lot of people think that prices are just going to roll over and that we’re going to come back down to this range here at around $30,000. But I just don’t think it’s the case here considering the supply contraction…”
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $40,091.
Stay tuned for more news and make sure to check out the prices as well.
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