The Analyst Predicted The Growth Of Bitcoin To $ 200 K Next Year

Trader Nicholas Merten is confident that the first cryptocurrency will remain flat for several months before returning to an active upward movement

Trader Nicholas Merten predicted that Bitcoin would reach the $ 200,000 mark next year if the most optimistic scenario comes true.

According to the Merten, the first cryptocurrency will stay in a sideways movement for several more months before returning to active growth.

A significant rise in the price of bitcoin is highly likely to occur in March next year, Merten is sure. According to the analyst’s forecast, in March the price of bitcoin will be able to exceed $ 100 thousand.

Merten also explained why Bitcoin did not hit the $ 98K mark in November, deviating for the first time from the Floor model proposed by analyst PlanB.

According to the trader, the achievement of $ 100 thousand by the cryptocurrency was postponed for several months due to the fact that each subsequent cycle of asset growth lasts much longer than the previous one.

On November 28, the value of bitcoin for the first time since the beginning of October fell to $ 53.2 thousand. On December 2, the asset is traded at $ 57 thousand, and its capitalization is $ 1.07 trillion, according to CoinGecko.