Analyst Nicholas Merten Explains Why Bitcoin Bulls Are Still In Control

According to crypto analyst Nicholas Merten, Bitcoin (BTC) is set to climb to new heights within the next year.

Merten shared in a recent video update with the 515K subscribers to his YouTube channel that the bulls are still in control of the crypto markets regardless of Bitcoin’s recent dip below $40K mark.

“Sure, the market isn’t exciting at the end of the day, at least right now. But it never is exciting when accumulation to starting to happen, when a trend set up is beginning to build. That’s an important thing to understand here…

If you want to wait to buy Bitcoin until it’s trending higher, be my guest. That’s totally fine. I’m not going to give you guys grief about whether or not you want to buy Bitcoin or not now. That’s not my aim here. What I want to focus on is the important fact that it takes time, especially in this cycle or bull market, where credit is driving cycles upwards and downwards. We need to understand that it’s going to take time.”

Merten notes that since late spring and early summer last year, Bitcoin started climb higher, printing higher lows and higher highs. which according to the analyst is a strong signal that the bulls are still in charge, regardless of short term fluctuations.

With the bulls controlling the market, the analyst confirms his bullish case for BTC over the next year, targeting the leading digital asset valuation at $150,000 – $200,000 range.

At the time of writing, BTC is trading at $40,730.