Digital Currency Analyst: Bitcoin breaks the previous record sooner than you expect

An analyst in the digital currency market says bitcoin could break its historical record in the next few months. He also expects the general market trend to be upwards by the end of 2022.

According to the Daily Hoodel, Nicholas Merten, a digital currency analyst and host of the YouTube video program DataDash, said bitcoin will reach its peak sooner than most traders think.

Merton told 514,000 followers in his new YouTube Data Dash app that Bitcoin will be testing $ 65,000 again faster than many would expect, and that fundamental developments will fuel this upward trend.

He said:

This is happening much faster than people think, and Bitcoin will test the $ 65,000 range again. Bitcoin needs only a slight increase in market volume, a more promising price movement than what we saw in the first quarter of 2022. ., and a strong incentive to attract several new corporate investors. With the purchase of corporate investors and even micro-investors and the provision of conditions, the period of the bitcoin boom began and soon returned to the price of 65,000 dollars.

Merton continued.

The price of bitcoin may even reach its third significant new peak in 2021. Last year we also saw these kinds of fluctuations, adjustments and jumps up in the middle of the cycle and I think this time we can see how the price returns to higher levels which could cause bitcoin to break its previous record. In addition, the previous range of resistance, which is the highest historical price of bitcoin, will become a new support.

Merton predicts that bitcoin will turn the $ 65,000 resistance level into support and will use that support to jump to unprecedented levels by the end of the year.

He said at last:

What we usually see here, according to what we drew on the chart a long time ago, is climbing to higher levels. After overcoming the upward trend in May, even if we have a slight correction in the middle of the month, we will still continue up to the range of $ 75,000 to $ 90,000. Then the price of bitcoin decreases and reaches the level of support we mentioned August or September (August or September) resumes its upward trend, and around November and December (November and December) to about 150,000 to 200 It costs $ 1,000.

Bitcoin price chart with the trend that Merton imagines (in one day view)
Bitcoin price chart; Merton’s analysis of the 1-day Bitcoin / Dollar Market Review.

Digital Currency Analyst’s publication: Bitcoin broke its previous record earlier than you expected, first appeared in Digital Currency.

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