Popular crypto analyst on YouTube is now predicting that Bitcoin (BTC) will hit $15,000 – $20,000 in the next couple of weeks – a prediction that will surely send ripples out into the entire crypto space.
Nicholas Merten, a young investor with libertarian views and founder of the largest crypto YouTube channel DataDash, says he predicted the price because the apex cryptocurrency has become more mainstream of late. He believes Bitcoin is slowly turning out to be a hedge against global liquidity crises.
“I believe anything in the [$9,000 to $12,000] range is going to be a huge discount a few weeks out in this case, when we really start to pick up on the cycle and possibly go to $15,000, $18,000 or $20,000. I think that’s where we’re going to in the sense of the cards that we have right now. And the reason for that is because the macro environment is brewing for that.
I think Bitcoin is becoming a much more mainstream topic of discussion.
If global financial problems continue and Bitcoin price continues to soar as an asset, Merten claims financial institutions will have no other option but to bring Bitcoin to their clients.
Because not only do private investors want access to this, they know that their clients want access to it. And as stocks start to top, trading revenues dry up. These companies run off business models. They need to get exposure to these asset classes both for themselves and for their clients. And that’s exactly what we’re going to have here.
Bitcoin to remain bullish in the short term
Vice president of JP Morgan Chase and former Wall Street trader Tone Vays said Bitcoin will remain bullish in the short term provided that its price remains above the $11,000 mark. His sentiments were echoed by Josh Rager. However, Rager warned investors to be careful as things can change in the blink of an eye thanks to Bitcoin’s hyper volatility. His tweet reads:
$BTC price currently sitting at weekly support on higher time frames As long as price holds above $11000, I’m not really that concerned about revisiting $9ks again or lower It’s far riskier being bearish at this point in time Take it day by day & week by week