Merten Predicts Timing For BTC Last Leg And Has A Huge Target For ETH

Popular cryptocurrency analyst and trader, Nicholas Merten, is looking into Bitcoin (BTC) and predicts when the leading digital asset could start its final leg for the bull run. He also has a massive target for the leading smart contract platform Ethereum (ETH).

The analyst shared with his 485K subscribers on YouTube that he believes Bitcoin will break out in late January or early February.

Merten says it’s possible for Bitcoin to potentially break the concept of expanding cycles, which is based on the theory that each bull market becomes longer than the previous one.

“I’ll even go ahead and say this: It might be that we see the expanding cycles theory broken to some degree, and we go all the way to $200,000. But that is the really optimistic narrative here.”

Timing and probability wise the market analyst says it’s more likely that Bitcoin’s ascend will top out in March at around $100,000. According to Merten, Bitcoin’s Logarithmic Growth Curves chart indicates that BTC’s breakout will likely take it to its next Fibonacci deviation of a support line, representing a nearly 80% increase from BTC’s current value.

“78% price move from where we stand at the moment, over three trading months. Doesn’t seem like a crazy ask to me. Seems like a quite conservative estimation, according to the data science that we have, expanding cycles, and how we know crypto can move. Crypto can easily make a 70-80% move within this timeframe.”

Bitcoin is trading at $57,094 at time of writing, with 1% loss on the daily chart.

In another video looking into Ethereum, Merten tells what that he thinks it will take for Ethereum to eventually smash the $20,000 level.

“If everything goes perfect for Ethereum, if we get that opportunity to be able to get ETH to launch properly, people using roll-ups, whether it be zero-knowledge roll-ups or optimistic roll-ups, generally ‘layer-2 solutions,’ we could see a $20,000 Ethereum this cycle. I know it sounds crazy but when you look at the logarithmic chart we’ve seen these kinds of percentage returns before.”

Rollups are solutions that execute transactions outside the main Ethereum chain, but record transaction data on it. The two types of roll-ups are zero-knowledge (ZK) rollups and optimistic rollups.

If Ethereum is able to maintain solid fundamentals, a rally to the $20,000 may not be as overly optimistic as it sounds, Merten says. In fact, a gain of that level would only be about half of what ETH achieved in the first five months of 2021.

“I think it’s very reasonable we could see this kind of price level. Somewhere between our neutral and optimistic target. To play it safe, I would say that we’ve got a really solid steady stream of price action for Ethereum ahead of us. The key thing to understand is that there are periods of this cycle where Ethereum outpaces Bitcoin, which makes these higher targets reasonable.”

Ethereum is currently trading for $4,560 at time of writing, with 3 loss on a daily chart.