Famous crypto analyst Nicholas Merten is warning about the possibility of a significant Bitcoin (BTC) crash. Accordingly, Merten highlights several factors that could lead to a dramatic 63% drop in Bitcoin's value, including the looming threat of recession. This forecast is based on the observation of a declining accumulation channel that first formed in 2021.


Navigating uncharted waters: Bitcoin BTC's uncertain future
Merten shares a situation where the price of Bitcoin would drop to around $10,000. Accordingly, he suggests that BTC may face a worrying scenario. Although it probably sounds counterintuitive, it is a level that cannot be ignored. Two key factors dominate this bleak outlook.
First, Merten points to the Federal Reserve's hawkish stance, which has contributed to the continued decline of market liquidity. Second, the specter of a looming recession adds further uncertainty to Bitcoin's future performance.
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sh3rlockvip
· 2023-09-29 13:07
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