If we believe the biggest cryptocurrency analyst of YouTube, Bitcoin (BTC) will possibly hit the mark of $15,000 to $20,000 in the upcoming weeks. Nicholas Merten has talked elaborately about the Bitcoin bullish trend he sees approaching in the new DataDash episode. As per Merten, BTC may hit a bull run given that it has been gaining wide recognition as a hedge across the world against the unstable global economic scenario.
Explaining further, Merten expresses his belief that anything within the range of 9K – 12K dollars will be huge in several weeks when the cycle would pick up and potentially reach $15K, $18K, or even $20K. Looking at the current scenario, he feels that’s where it will lead us as the larger environment is already building up for it.
Merten also thinks that Bitcoin has become a mainstream discussion subject, citing the example of financial sector experts. He says these finance experts are keeping a tab on the global economic markets, such as the US, China, Japan, and Europe. While it’s the age-old conventional assets like silver and gold that keep performing well even in trying times, BTC has also made a place for itself which is quite interesting.
Moreover, Bitcoin has been around for a long time now and is the most recognized crypto as well. Besides, we must take note of the fact that while China is in the news at present for devaluing its currency, this token is 10% up, remarks Merten.
Continuing further, Merten exclaimed that if BTC continues its uptrend and the global economic troubles persist, it will lead financial institutions pushing harder to bring Bitcoin to their clientele. It will eventually get people to talk about it as well as fetch institutional interest. Efforts on the regulatory front would also be accelerated for more liquidity. Merten highlights that it’s not just the private investors, but their clients too want access to such asset classes.
Merten is not the only one who has made such a prediction. Tone Vays, another crypto analyst, also feels bullish as far as BTC stays over $11K. Josh Rager, a crypto trader, and Blockroots Co-Founder is another proficient trader to have voiced similar thoughts. However, he has also stated that due to the hyper volatility of BTC, things can change instantaneously so, it’s better to take it on the day-by-day and week-by-week basis.