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Popular crypto YouTuber Nicholas Merten says bitcoin has entered its next bull cycle.
-Merten claimed to be interested in trading opportunities in altcoins, saying bitcoin's rising price would spill over into alts over the next two weeks.
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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