In a new strategic session, the closely followed analyst told his teeming YouTube subscribers that price action indeed looks unattractive for the flagship crypto, but one indicator is suggesting that the bulls are about to take charge of the market.

Read Also: Analyst: Bitcoin Just Flashed a Signal That Has Historically Marked the Bottom of Previous Bear Markets

According to Merten, big spikes in volume on Bitcoin (BTC) chart have historically served as reliable indictors to be sure of trend reversals. He stated that the current spike in volume is similar to the bottom of the price corrections in both March 2020 and May 2021.

As stated by the analyst, Bitcoin is gearing up for an unexpected rally considering the large volume spike printed after the collapse of the Terra ecosystem and the subsequent market volatility.

Nicholas Merten noted:

“I want to go out on a limb and make a bold claim about the crypto markets. Especially as sentiment is incredibly fearful right now. That is that right here, right now, no matter if you believe that we have further to go down in price in the preceding months, that we’re in a bear market, or if you feel that the recent correction was the bottom…

“Right here right now, it is much more likely than not that we’re going to see a significant rally in price recovering a lot of the losses, than continue down to the downside…

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“The weekly timeframe gives us a very good overview of when throughout history there were capitulation events, that there were major liquidation events in the market, that effectively led to spikes in volume and therefore a significant decline in price…

“This market is driven by credit. Is driven by leverage. A lot of the major moves upward and downward are caused by long-term players in the market who are taking on a little too much risk than they should.

“That has led to the exacerbated rallies in price, recoveries in the market, and all the new all-time highs that we’ve set but it also played a role in the sharp 50% corrections that we’ve seen throughout this cycle, many times before.”

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The post Analyst Nicholas Merten: Bitcoin (BTC) Is About To Surprise Everyone as One Historical Indicator Suggests appeared first on Times Tabloid.

In a new strategic session, Merten, the host of DataCash shared the potential of the upcoming upgrades to the Ethereum network with his teeming YouTube subscribers.

Read Also: Ethereum Users will Soon Be Able to Make Private Transactions as Tornado Cash Set to Launch on Arbitrum Layer Two Network

Nicholas Merten noted:

“If everything goes perfect for Ethereum, if we get that opportunity to be able to get ETH to launch properly, people using roll-ups, whether it be zero-knowledge roll-ups or optimistic roll-ups, generally ‘layer-2 solutions,’ we could see a $20,000 Ethereum this cycle.

“I know it sounds crazy but when you look at the logarithmic chart we’ve seen these kinds of percentage returns before.”

Rollups are solutions that execute transactions outside the main Ethereum chain, but record transaction data on it. The two types of roll-ups are zero-knowledge (ZK) rollups and optimistic rollups.

The popular analyst further noted that if Ethereum (ETH) maintains solid fundamentals, the $20,000 level wouldn’t be an impossible feat to attain. He said such a gain would only be relatively half of what the cryptocurrency achieved in the first 5 months of 2021.

Read Also: Crypto Enthusiasts Raise $47 Million in Ethereum (ETH) To Purchase Rare Copy of U.S. Constitution

“I think it’s very reasonable we could see this kind of price level. Somewhere between our neutral and optimistic target. To play it safe, I would say that we’ve got a really solid steady stream of price action for Ethereum ahead of us. The key thing to understand is that there are periods of this cycle where Ethereum outpaces Bitcoin, which makes these higher targets reasonable.” Nicholas Merten added.

Meanwhile, Ethereum has been excellent in the market over the past week unlike Bitcoin (BTC) that has remained sideways in the same timeframe. At the time of filing this report, ETH is trading at $4,526.78, with about a 4% price downtrend in the last 24 hours.

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The post Analyst Nicholas Merten: Ethereum Upgrades Could Take ETH to Hit $20,000 in this Bull Cycle appeared first on Times Tabloid.

According to Merten in a new video shared with his teeming YouTube subscribers, Ethereum (ETH) has the potential to surge 400% from its current prices. The crypto strategist stated that the top cryptocurrency is about to replicate the bull run of 2017.

Read Also: Vitalik Buterin: I Was “Dead Wrong” When I Thought Ethereum 2.0 Will Launch Within 1-2 years

Merten is also bullish on Ethereum (ETH) in its Bitcoin pair. According to the trader, ETH has the potential to hit its price all-time high of 0.15 BTC worth $7,792 at the time of press.

Nicholas Merten noted:

“Ethereum’s still holding around its midline here, showing that it’s probably going to – just like it did back here in 2017 – formulate and set the stage here to continue climbing higher towards a much bigger even level. And we’re kind of keeping that target range of potential around $20,000 if we have the expanding cycles if we really go out into the late part of 2022 to early 2023. 

“But even if we have a more conservative estimate of $10,000 or $15,000, we’ve clearly set the stage for higher highs here in the sense of the dollar pair.

Read Also: Raoul Pal: $20,000 Remains My Price Target for Ethereum (ETH), Happening in the Coming Months

“Since the lows, we’ve really made a nice rebound back here (0.055 BTC or $2,844) and look like we’re revisiting back relatively close to the previous relative highs of this cycle, which is again signalling further that you have the cupping price action that scoops back up, and we start to pick up the momentum…

“You can see here that we’ve still got ways to go comparative to where we were back here in June of 2017 or here in February of 2018.”

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The post Analyst Nicholas Merten Predicts Notable Surge in Ethereum (ETH) Price in the Coming Months appeared first on Times Tabloid.