Nicholas Merten Lays Out His Worst Case Scenario For Bitcoin And Ethereum

Nicholas Merten, a prominent crypto analyst, draws his worst-case scenario for the two leading digital assets Bitcoin (BTC) and Ethereum (ETH).

The analyst shared with the 516K subscribers to his YouTube channel that there is no way for Bitcoin to fall down to $10,000 or even $20,000.

Merten shows to a chart displaying Bitcoin and Ethereum’s combined market cap. According to him, the combined market cap of the duo has never returned down to mid-range territory from a previous bull market. The combined market cap has also managed to stay above the highs of the previous bull market, the analyst notes.

“It just hasn’t happened before. Only during bear markets here, not after we’ve set new all-time highs. It just hasn’t happened before in the past, and I don’t think it’s going to be happening any time soon, but there is a potential range here where we could see price decline a bit further.” 

The combined market cap of BTC and ETH is currently approximately $1.057 trillion. According to the analyst, there is a chance that it could fall down to $850 billion, representing over 15% drop.

If that happens BTC would be priced in the low $30K range and ETH in the mid $2K levels, Merten estimates, saying that those levels would be the worst-case scenarios for the top two digital assets.

At the time of writing, BTC trades at $37,888, and ETH at $2,793.