{"id":476382,"date":"2021-11-15T17:00:06","date_gmt":"2021-11-15T17:00:06","guid":{"rendered":"https:\/\/ktsl888.com\/?p=476382"},"modified":"2024-06-11T14:00:19","modified_gmt":"2024-06-11T14:00:19","slug":"crypto-analyst-says-bitcoin-wont-hit-100000-this-year-when-will-it-hit","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-analyst-says-bitcoin-wont-hit-100000-this-year-when-will-it-hit\/","title":{"rendered":"Crypto Analyst Says Bitcoin Won\u2019t Hit $100,000 This Year, When Will It Hit?"},"content":{"rendered":"

Bitcoin at $100,000 has become somewhat of a generally agreed-upon peak for the current cycle. Various analysts have put the digital asset at this point before the end of the year, painting a rather bullish future for BTC. With Bitcoin\u2019s recent touch at $69,000, this price point is looking more likely by the day. However, not everyone thinks that the asset will hit $100,000 in 2021.<\/p>\n

One of these is analyst Nicholas Merten. Merten has disagreed<\/a> with the predictions for the digital asset that puts the year-end price at $100,000. According to the analyst,\u00a0 <\/span>this is an overly optimistic target that the market won\u2019t be seeing anytime soon. But that does not mean that it won\u2019t hit it at all.<\/p>\n

Related Reading |\u00a0Confirmed: AMC Now Accepts Bitcoin, Ethereum, Two Other Cryptos, Dogecoin To Follow<\/a><\/strong><\/em><\/p>\n

Analysts Are Getting It Wrong<\/h2>\n

Merten has always been bullish on the future of bitcoin. However, this seems to be one train that the analyst cannot get behind. The approval of the Bitcoin Futures ETF by the Securities and Exchange Commission in October has provided the push for BTC to hit a new all-time high but did not drive BTC towards the price the market was expecting.<\/p>\n

\u201cThere\u2019s no way we are going to a $100,000 or $150,000 in Q4 of this year or Q1 of next year. I\u2019m sorry. I\u2019m going to have to say it because I think a lot of the analysts are getting this wrong,\u201d said Merten.<\/p>\n

\"Bitcoin<\/p>\n

BTC trading at $65K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The analyst explained that the approval of the ETFs did not push BTC towards the expected six-figure price point, which led him to question what macro event could drive the asset towards this figure this year.<\/p>\n
$200,000 Bitcoin In 2022<\/h2>\n
Merten\u2019s outlook for year-end may not have been bullish but for the long term, the analyst sees big things in the future of the asset. He explained that just because the market will not see bitcoin at $100K for 2021 does not mean that the future is bleak. In fact, Merten expects the current bull cycle to drag out until late 2022, with the price of the digital asset peaking at $200,000.<\/p>\n
Related Reading |\u00a0Plummeting Bitcoin Exchange Reserves Show Investors Are Not Ready To Sell<\/a><\/strong><\/em><\/p>\n
So instead of expecting a couple of months of a sharp blow-off, it will be a steady climb upwards into the end of 2022. There is no doubt that bitcoin is headed in the direction of a multi-trillion dollar asset. The only drawback is no one can accurately predict when this will happen. However, Merten strongly believes that 2022 will be the year.<\/p>\n
\n
\u201cIf we\u2019re talking about the perspective of going to $3 or $4 trillion (market cap), around that $150,000 to $200,000 range, it\u2019s going to take a lot of liquidity, and along with that as well, some time to get there. And that\u2019s why we have our expectation of a cycle top coming in November of 2022, far-out than probably 90-95% of market projections.\u201d<\/p>\n<\/blockquote>\n
Featured image from HDQwalls, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin at $100,000 has become somewhat of a generally agreed-upon peak for the current cycle. Various analysts have put the digital asset at this point before the end of the year, painting a rather bullish future for BTC. With Bitcoin\u2019s recent touch at $69,000, this price point is looking more likely by the day. However, not everyone thinks that the asset will hit $100,000 in 2021. One of these is analyst Nicholas Merten. Merten has disagreed with the predictions for the digital asset that puts the year-end price at $100,000. According to the analyst,\u00a0 this is an overly optimistic target that the market won\u2019t be seeing anytime soon. But that does not mean that it won\u2019t hit it at all. Related Reading |\u00a0Confirmed: AMC Now Accepts Bitcoin, Ethereum, Two Other Cryptos, Dogecoin To Follow Analysts Are Getting It Wrong Merten has always been bullish on the future of bitcoin. However, this seems to be one train that the analyst cannot get behind. The approval of the Bitcoin Futures ETF by the Securities and Exchange Commission in October has provided the push for BTC to hit a new all-time high but did not drive BTC towards the price the market was expecting. \u201cThere\u2019s no way we are going to a $100,000 or $150,000 in Q4 of this year or Q1 of next year. I\u2019m sorry. I\u2019m going to have to say it because I think a lot of the analysts are getting this wrong,\u201d said Merten. BTC trading at $65K | Source: BTCUSD on TradingView.com The analyst explained that the approval of the ETFs did not push BTC towards the expected six-figure price point, which led him to question what macro event could drive the asset towards this figure this year. $200,000 Bitcoin In 2022 Merten\u2019s outlook for year-end may not have been bullish but for the long term, the analyst sees big things in the future of the asset. He explained that just because the market will not see bitcoin at $100K for 2021 does not mean that the future is bleak. In fact, Merten expects the current bull cycle to drag out until late 2022, with the price of the digital asset peaking at $200,000. Related Reading |\u00a0Plummeting Bitcoin Exchange Reserves Show Investors Are Not Ready To Sell So instead of expecting a couple of months of a sharp blow-off, it will be a steady climb upwards into the end of 2022. There is no doubt that bitcoin is headed in the direction of a multi-trillion dollar asset. The only drawback is no one can accurately predict when this will happen. However, Merten strongly believes that 2022 will be the year. \u201cIf we\u2019re talking about the perspective of going to $3 or $4 trillion (market cap), around that $150,000 to $200,000 range, it\u2019s going to take a lot of liquidity, and along with that as well, some time to get there. And that\u2019s why we have our expectation of a cycle top coming in November of 2022, far-out than probably 90-95% of market projections.\u201d Featured image from HDQwalls, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":476384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,26263,10709],"class_list":["post-476382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-crypto-analyst","tag-price-prediction"],"acf":[],"yoast_head":"\nCrypto Analyst Says Bitcoin Won\u2019t Hit $100,000 This Year, When Will It Hit?<\/title>\n<meta name=\"description\" content=\"Bitcoin at $100,000 has become somewhat of a generally agreed-upon peak for the current cycle. 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