Nicholas Merten Projects A Rapid Bitcoin Move To All-Time Highs

According to a top crypto analyst, Nicholas Merten, Bitcoin (BTC) will move faster to new all-time highs than most investors think.

In a recent video update, Merten shared with the 514K subscribers to his YouTube channel that Bitcoin will retest $65,000 a lot sooner than most traders expect. There are certain fundamental to support the move.

“It’s going to happen much much quicker than people will think here for Bitcoin to be able to retest back up to this range ($65K). It just takes a little more Bitcoin being moved with the market, slightly more confident price action than what we had back here back a couple months ago in the first quarter of 2022, and a good catalyst for a couple of institutional investors to buy some positions, even retail traders, and boom, you start seeing prices get back up to $65k really quick…

Potentially even setting in a third new significant all-time high since back in 2021 where we’ve had these kinds of zig-zagging, mid-cycle corrections, mid-cycle rallies… and I think this time we can see Bitcoin get back above that range and set new all-time highs but on top of that make that previous resistance range of higher highs, make that into new support.”

The analyst projects Bitcoin to turn resistance at $65k to support, and from there shoot to new all-time highs by the end of 2022.

“What we generally see here, as we’ve had drawn on the chart for some time, is that after we go through this May rally, even if we get a slight pullback here in the middle of the month, we would still continue higher here, get well up here towards around $75-90k for Bitcoin’s price, come down and make that support, and going from August or Septemeber, really starting to charter into November and December, up towards around $150-$200k.”

At the time of writing, BTC trades at $46,695, up 1.5% on the daily chart.