Nicholas Merten Projects Bitcoin To Rally $200,000 In November 2022

Nicholas Merten, a prominent crypto analyst and trader has a massive target for Bitcoin (BTC) towards the end of the year 2022. He predicts BTC price to hike up to $200,000.

In recent video update, Merten shared with the 502K subscribers to DataDash YouTube channel that Bitcoin’s recent market cap correction to $600 billion will define the foundation for the next bull run. He said:

“If you look at this on the expanding time frame, it looks pretty reasonable. And, on top of that, when we take a look at the BTC market cap, it’s really interesting here… If we take a look at the previous cycle peak and align it with the lows, this has been a pretty important range of contest.
If Bitcoin can hold here, at $600 billion, that’s going to set the foundation for Bitcoin to spring up over the next coming months.”

Merten points out that all rallies derive from crashes and are often fueled by big money buying an asset at heavily discounted market prices. He says that understanding how big players buy, is essential for anyone making money from highly volatile markets.

“Rallies are formulated, nurtured by liquidations, by corrections, by fear… because the only way you’re going to see this increase is by larger players, the smart money, in this case, coming in at the time that they come in.
Well, when do they come in? They come in during peak fear. They buy discounts…
We gotta respect them for that. We talk so bad about the larger players, but, to be honest, we just need to understand how they work, and we can navigate this market really well.”