Nicholas Merten Projects A Crypto Rally, Targets Bitcoin At $60,000
According to a popular cryptocurrency analyst, Nicholas Merten, Bitcoin (BTC) and the rest of the crypto markets are looking ripe for a rally with BTC climbing up to $60,000.
In a recent video update, Merten shared with the 513K subscribers to his YouTube channel that he’s getting more confident that crypto rally is starting from here.
“I think there’s a very good chance here that we are going to see this spring rally we’ve been talking about. My convictions are only growing stronger in this.”
According to the analyst’s prediction, we will soon BTC see back to $60,000 levels, where it hasn’t been since November 2021. But also, Merten believes that the altcoin market, which is already showing positive signs, will also rally.
“I want to make the case that, really, as soon as later in April, if this trend plays out here, we could be back up towards that $60,000 range for Bitcoin. We could be in for a spring rally… But it’s not just Bitcoin. I want to emphasize this big time – because I understand all the while Bitcoin is obviously the most recognized currency, it is the largest crypto in the crypto space – this is unlikely to be just a Bitcoin rally.
I know that people usually think that it’s Bitcoin first then altcoins, but if this market has proven anything, it’s proven that the previous trends we’ve found in the past are not the same in this cycle. And we’ve seen, just like we saw back in late 2020 into early 2021 – Bitcoin and altcoins were picking up steam.”
The analyst notes that some altcoins are already up quite a lot, which according to him, shows that institutions are buying altcoins at market value as they see rallies incoming.
“You’ve got a ton of various different altcoins – this is one of my big signs… We’re starting to see a lot of random altcoins popping off in the market, having multiple days of 10-20% gains. And that is a really big telltale sign that the market is starting to, again, not just passively accumulate or fill their orders – the smart money or institutions are not waiting to fill with limit orders – they’re market order buying, getting their positions because they’re feeling the FOMO [fear of missing out] around the corner. The market’s going to start trending higher.”
