Nicholas Merten Expects Altcoin Dominance To Soar In Coming Months

Nicholas Merten, a popular cryptocurrency analyst and trader expects altcoin dominance – the overall altcoin market share against Bitcoin (BTC) – to go up in the next few months.

In a recent video session, Merten shares with the 511K subscribers to his YouTube channel that the total valuation of the altcoin market in relation to Bitcoin, known as altcoin dominance, looks bullish ahead.

“All the while altcoin dominance has been pulling back here a little bit, we’re still holding up this consistent resistance range. 

The question here remains… whether or not we are able to establish a higher low here around 55.5%, which is higher than the significant low we had in October and the one back in July.

Further solidifying the previous line of resistance is now support and if we get that, I think we’re going to get a spring up into May and July, not just where Bitcoin is doing well but where Ethereum and many other players in the market could start to do just as well and continue climbing against Bitcoin in their ratios.”

According to Merten, the leading digital asset, Bitcoin, is gunning for a $4 trillion market capitalization, and that a significant price surge is in the horizon.

“From the previous highs like we did back from the lows to the relative high we had in June of 2019 and also when we revisited that range, we had a 392% price expansion. All we’re asking for is not only for a longer period of time but a 220% return over a more expanded period of time. “

The analyst believes that his projection might even be conservative considering the historical performance of Bitcoin.

“This is quite conservative considering that in most cycles we have effectively what’s known as a blowoff top and that’s where price is moving incredibly fast to the upside, and it could still play out like that, but we’re giving time here for price to consolidate and make this green line support once again.”