It looks like Bitcoin’s fate is being addressed by the important analyst Nicholas Merten. Check out the latest reports about the most important digital asset below.
Bitcoin new price prediction is out
According to a popular crypto analyst, Bitcoin (BTC) is expected to remain in a bearish cycle for a while. In a recent strategy session, Nicholas Merten, the host of DataDash, informed his 512,000 YouTube subscribers that Bitcoin’s bearish trend is likely to continue due to the Federal Reserve’s hawkish approach, which has led to a contraction in market liquidity.
Despite optimistic crypto narratives, the analyst believes that Bitcoin is not yet prepared to reach new all-time highs through methods such as ETFs (exchange-traded funds), de-dollarization, BRICS, or Bitcoin bank runs. While some people have predicted a collapse in the market or a decline in Bitcoin’s price to $15,714, the analyst clarifies that this is not necessarily the case.
It is possible that there may be a collapse or correction in the future, leading to a continuation of a bear market. This could result in a prolonged decline in prices and dashed expectations for those who were previously optimistic.
Unfortunately, this could also lead to many people losing their assets and a reduction in the excess money in the system, which is contributing to inflation.
It may be a challenging time ahead, but it is important to remember that the Federal Reserve has a responsibility to manage the situation.
According to Merten, the current macroeconomic conditions suggest that equities, Bitcoin, and altcoins are all likely to experience a market correction.
Merten believes that we should pay attention to the situation and prepare for potential turbulence. He predicts that not only the cryptocurrency markets but also the broader asset markets are on the verge of a major shift.
There is a lot of uncertainty in the macro environment that has been hidden beneath the surface, and it could cause significant damage to the economy. At the time of writing, BTC is trading at $27,179, which is a decrease of 0.5% in the last 24 hours.
