Popular YouTuber and crypto analyst Nicholas Merten says bitcoin has entered into a bull cycle and will eventually pass $100,000 in the next two years.
According to his most recent video, Merten claimed that bitcoin’s long-awaited price breakout was finally underway, with the coin’s history of boom-and-bust cycles painting a bullish outlook. He said previous bitcoin cycles have created a general trend over the course of eleven to thirteen months, with the next cycle set to play out until November 2022.
Merten continued:
If we take a look at the logarithmic chart, where we have the line resistance that’s curving over time, it’s roughly around a big even of $100,000.
The crypto trader claimed to be bullish on bitcoin in the short-term, predicting the crypto-asset would make a move to $12,000 before testing levels above $14,000.
He said:
We are now starting to see a breakout here […] I would not be betting against Bitcoin right now. We could very well be going in to set in a relative short-term high here around $12,000 then eventually testing above here on $14,000.
Merten also claimed to be bullish on altcoins and predicted the rising tide of bitcoin would spill over into other crypto-assets. He said there were potential trading opportunities in litecoin, ether, ADA, and other “bigger protocols” that would do well over the next one to two weeks.
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