{"id":552287,"date":"2023-09-21T08:45:54","date_gmt":"2023-09-21T08:45:54","guid":{"rendered":"https:\/\/ktsl888.com\/?p=552287"},"modified":"2024-06-11T07:09:19","modified_gmt":"2024-06-11T07:09:19","slug":"trouble-for-bitcoin-price","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/trouble-for-bitcoin-price\/","title":{"rendered":"Crypto Analyst Predicts More Trouble Ahead For Bitcoin Price, Here\u2019s Why"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Crypto analyst Nicholas Merten has given an insight into the future trajectory of the <\/span><span style=\"font-weight: 400\">Bitcoin<\/span><span style=\"font-weight: 400\"> price, suggesting that the flagship cryptocurrency may experience turbulent times ahead.\u00a0<\/span><\/p>\n<h2>The Calm Before The Storm For Bitcoin<\/h2>\n<p><span style=\"font-weight: 400\">In a recent episode of his YouTube channel DataDash, Merton mentioned that Bitcoin, other altcoins, and the broader asset market were on the brink of a major move as several macro factors were coming together. He further went ahead to discuss how these different \u201cdominos\u201d\u00a0 could \u201cpotentially cause a lot of pain in the economy.\u201d<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-whale-56-million\/\">Bearish Signal? Bitcoin Whale Wakes Up From 6-Year Slumber And Transfers $56 Million<\/a><\/div>\n<p><span style=\"font-weight: 400\">The first macro factor he mentioned was equities. According to him, the direction of equities and the broader assets are going to have a \u201c<\/span><a href=\"https:\/\/bitcoinist.com\/stock-market-boost-bitcoin-at-any-moment\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">direct impact<\/span><\/a><span style=\"font-weight: 400\">\u201d on Bitcoin. He showed a direct relation between the equity market and the crypto market as coins began to pick up at the beginning of the year, right around when the former was on a high.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, he pointed out that the equity market has been relatively quiet as the narratives that are meant to push it higher haven\u2019t done the job. As such, he believes that if stocks like <\/span><a href=\"https:\/\/bitcoinist.com\/the-tech-stock-trend-is-strengthening-why-this-matters-for-bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Apple\u2019s, Microsoft\u2019s, and Fang\u2019s<\/span><\/a><span style=\"font-weight: 400\"> (basically the stocks of major tech companies) don\u2019t start picking up, then there could be a \u201creally big problem\u201d (most likely in reference to the crypto market).<\/span><\/p>\n<h2>Re-Inflation On The Rise<\/h2>\n<p><span style=\"font-weight: 400\">Another factor that he emphasized was the <\/span><a href=\"https:\/\/bitcoinist.com\/cpi-bitcoin-crypto-see-unexpected-boost\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">inflation data<\/span><\/a><span style=\"font-weight: 400\">. Merton seemed to suggest that the Fed wasn\u2019t doing enough to curb inflation and bring it down to the target of 2%. According to him, the Fed could have taken a more stringent approach by raising the rates by 75 basis points or even 100.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The inflation rate is known to have a significant impact on the crypto market, as a higher rate means that investors may have little or nothing to spend in the crypto market. Merton noted that it is evident that the Fed isn\u2019t doing enough as the prices of several goods and services (including energy) seem to be re-inflating.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">He made a comparison to the \u201870s when inflation was also at an all-time high and stated that if this time is nearly similar to then or if there is a trend, then it could be a \u201chuge problem.\u201d<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/10000-xrp-price\/\">Is $10,000 Possible For XRP Price? Crypto Analysts Weigh In<\/a><\/div>\n<p><span style=\"font-weight: 400\">Some may argue that the \u201870s were extreme times, especially with the oil embargo, which makes it different from this period. However, Merton noted that there isn\u2019t much difference as we have the situation with BRICS, which suggests that the world is de-globalizing and nations are less trusting of one another.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This would invariably affect trade deals and foreign relations, something which Merton believes would have \u201cinflationary pressures,\u201d and the Fed is well aware of this. He stated that the major reason we are experiencing this re-inflation is because <\/span><a href=\"https:\/\/bitcoinist.com\/supply-and-demand-trading-4-rules-to-follow\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">supply and demand<\/span><\/a><span style=\"font-weight: 400\"> aren\u2019t balanced.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to him, there is excess money in the system due to the \u201cexcess printing of money\u201d which people got rich off and the stimulus checks during the COVID era. As such, there is so much purchasing power without there being enough supply to meet these demands.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/Tfhrfebm\/\" alt=\"Bitcoin price chart from Tradingview.com (Crypto analyst)\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">BTC price drops below $27,000 once again | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto analyst Nicholas Merten has given an insight into the future trajectory of the Bitcoin price, suggesting that the flagship cryptocurrency may experience turbulent times ahead.\u00a0 The Calm Before The Storm For Bitcoin In a recent episode of his YouTube channel DataDash, Merton mentioned that Bitcoin, other altcoins, and the broader asset market were on the brink of a major move as several macro factors were coming together. He further went ahead to discuss how these different \u201cdominos\u201d\u00a0 could \u201cpotentially cause a lot of pain in the economy.\u201d Related Reading: Bearish Signal? Bitcoin Whale Wakes Up From 6-Year Slumber And Transfers $56 Million The first macro factor he mentioned was equities. According to him, the direction of equities and the broader assets are going to have a \u201cdirect impact\u201d on Bitcoin. He showed a direct relation between the equity market and the crypto market as coins began to pick up at the beginning of the year, right around when the former was on a high. However, he pointed out that the equity market has been relatively quiet as the narratives that are meant to push it higher haven\u2019t done the job. As such, he believes that if stocks like Apple\u2019s, Microsoft\u2019s, and Fang\u2019s (basically the stocks of major tech companies) don\u2019t start picking up, then there could be a \u201creally big problem\u201d (most likely in reference to the crypto market). Re-Inflation On The Rise Another factor that he emphasized was the inflation data. Merton seemed to suggest that the Fed wasn\u2019t doing enough to curb inflation and bring it down to the target of 2%. According to him, the Fed could have taken a more stringent approach by raising the rates by 75 basis points or even 100.\u00a0 The inflation rate is known to have a significant impact on the crypto market, as a higher rate means that investors may have little or nothing to spend in the crypto market. Merton noted that it is evident that the Fed isn\u2019t doing enough as the prices of several goods and services (including energy) seem to be re-inflating.\u00a0 He made a comparison to the \u201870s when inflation was also at an all-time high and stated that if this time is nearly similar to then or if there is a trend, then it could be a \u201chuge problem.\u201d Related Reading: Is $10,000 Possible For XRP Price? Crypto Analysts Weigh In Some may argue that the \u201870s were extreme times, especially with the oil embargo, which makes it different from this period. However, Merton noted that there isn\u2019t much difference as we have the situation with BRICS, which suggests that the world is de-globalizing and nations are less trusting of one another.\u00a0 This would invariably affect trade deals and foreign relations, something which Merton believes would have \u201cinflationary pressures,\u201d and the Fed is well aware of this. He stated that the major reason we are experiencing this re-inflation is because supply and demand aren\u2019t balanced.\u00a0 According to him, there is excess money in the system due to the \u201cexcess printing of money\u201d which people got rich off and the stimulus checks during the COVID era. As such, there is so much purchasing power without there being enough supply to meet these demands. BTC price drops below $27,000 once again | Source: BTCUSD on Tradingview.com Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":552289,"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":[428,656,84627,679,1119,89185,1144,78790,6664,26263,14690],"class_list":["post-552287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-performance","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Crypto Analyst Predicts More Trouble Ahead For Bitcoin Price, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Crypto analyst Nicholas Merten has given an insight into 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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