Crypto Markets Won’t Like This Year, Crypto Analyst Nicholas Merten Says, Here’s Why

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Popular crypto strategist Nicholas Merten is not convinced that the crypto markets are ready to peak in 2021.

The trader tells his 470,000 YouTube subscribers that other crypto enthusiasts believe the current cycle will end soon, with Bitcoin (BTC) reaching $ 100,000 by the end of the year.

The main crypto asset by market cap is trading at $ 45,261.73 at the time of writing and is down 14% last week, according to CoinGecko.

Merten, however, argues that market cycles are “maturing and lengthening”, predicting that the current cycle will last until November or December 2022 at the earliest.

“I think that’s a very reasonable way to play it, and it calls for a market cap of $ 10 trillion at 5x from here. I think that’s a really good request in this case, and it’s a reasonable amount of time for this further increase in valuation, because crypto is really reaching the general public and engaging institutions.

The total crypto market cap is $ 2.15 trillion at the time of writing, according to CoinGecko. If Bitcoin’s market share in the crypto space remains constant, a 5-fold increase could mean the leading cryptocurrency could surpass $ 200,000 by the end of next year.

Merten also predicts that the total market capitalization will accelerate in the “coming months” as the crypto is “in full swing of the bull market”.

“The important thing is that the altcoin market cap is up… for me, that’s a guarantee that we’re not in a bear market now. It’s the dominance of the altcoin.

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Featured Image: Shutterstock / Nithid / Vladimir Sazonov

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