Nicholas Merten Looks Into Bitcoin And Crypto Market – Predicts Its Growth

A top cryptocurrency analyst and trader, Nicholas Merten looks into how high the price of Bitcoin could actually rise during this cycle, as the leading digital asset is closing in on its all-time high.

At the time of writing Bitcoin is trading at $64,054, with 3.3% gains on a daily and 16.4% on a weekly chart. BTC hit its all-time high of $64,804 in mid-April this year.

Merten shares with his 474K subscribers on his YouTube channel that Bitcoin is “pretty much inevitably” set to go beyond $65,000.

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

According to the trader a “conservative estimate” based Bitcoin’s market cycle history, the leading crypto asset would reach a $4 trillion market capitalization by November next year. At the moment the market cap of BTC is little over $1.2 trillion. Should the market cap reach $4 trillion, it would price one BTC at around $200,000.

But if we take more optimistic approach, the price jump could happen much sooner, says Merten.

“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.”

Merten expects the overall value of cryptocurrencies to be $10 trillion by the end of this cycle. According to CoinMarketCap, the overall cryptocurrency market cap at the time of writing, is more than $2.5 trillion.