The crypto market looks great today, with most coins trading in the green and Bitcoin lingering above $11k.
At the moment of writing this article, Bitcoin is priced at $11,040.86.
Bitcoin is on the way to $100k
There have been a lot of optimistic crypto predictions following the May halving and especially these days after BTC hit $10k and then smashed through $11k.
One of YouTube’s most popular crypto strategists just said that BTC’s next bull cycle is officially underway, with BTC being on its way to hit an all-time high of $100,000.
In a new video, Nicholas Merten said that Bitcoin’s expanding boom-and-bust cycles are painting a clear picture of where the king coin is headed in the long term, as the online publication the Daily Hodl notes.
“What is the general trend we are seeing here? Well, each time, we are adding around 11 to 13 months, give or take, basically a year for each cycle. It would make logical sense here that for this next cycle, we would add another twelve months, give or take, again it could one month less or one month more. That’s going to lead us here somewhere around November of 2022,” Merten said.
He continued and pointed out the fact that “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.”
He’s also bullish on BTC in the short term, and he sees the coin igniting a strong rally and ending its three-year-long bear market.
“We are now starting to see a breakout here. Similar to the pattern we’ve been looking for, we might come down here, make that line of resistance [into] support before we really take off,” he said.
His short term prediction is BTC hitting $12k and testing $14k.