Crypto Analyst Nicholas Merten Predicts When Bitcoin Could Potentially Hit $ 200,000

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Popular crypto analyst Nicholas Merten believes it will be a few months before Bitcoin (BTC) breaks out of this current sideways accumulation period.

Merten tells his 485,000 YouTube subscribers that he believes BTC will erupt in late January or early February.

Merten says it’s possible that Bitcoin potentially breaks the concept of expansion cycles, which is the idea that each bull market becomes slightly longer than the last.

“I’m even going to go ahead and say this: We may see the expanding cycle theory broken to some extent, and we’re going up to $ 200,000.” But that’s the really upbeat narrative here.

On the contrary, Merten thinks it’s more likely that Bitcoin’s upward movement will peak sometime in March around $ 100,000. Analyst examines Bitcoin’s log growth curves chart and predicts that the breakout of BTC will likely take it to its next Fibonacci deviation from a support line, which is an increase of almost 80% from the current value of BTC.

“[That is a] 78% price variation compared to our current position, over three market months. That doesn’t sound like a crazy request to me. This seems like a pretty conservative estimate, depending on the data science we have, the expanding cycles, and how well we know crypto can move. Crypto can easily make a 70-80% move within this time frame.

Bitcoin is trading at $ 57,122.55 at the time of writing, down less than 1% on the day.

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