The founder of the cryptocurrency project DataDash believes that lateral price movement and correction are harbingers of the rapid arrival of institutional investors. Read more about the latest crypto news at bti.live. Nicholas Merten on his YouTube channel said that the conditions that will help Bitcoin to break out of a stagnant trend may soon be formed. Merten is confident that the current lull is nothing new and is a normal part of the price cycle of Bitcoin’s market cap:
“I’ve seen the way Bitcoin and the market, in general, is behaving right now too many times to count. Long-term investors have crowded out short-term investors, that is, those who trade and speculate in fear of collecting bitcoins.”
An experienced trader believes that the signal for the market to come out of hibernation will be the increase in the activity of the so-called “whales”. According to him, large bitcoin holders, starting to buy large volumes of the cryptocurrency, are triggering the market during the lull that usually follows a significant drop in prices.
Silence and sideways price movement is what follows major price corrections of more than 50%. You have silence and consolidation for a while. And then step number three: in the middle of the silence, someone will come out of nowhere and buy big.Explains Nicholas Merten
The head of DataDash believes that, from a macroeconomic point of view, further pressure from sellers due to geopolitical tensions will not affect the stability of Bitcoin:
“If there is any opportunity for Bitcoin to enter a bear market, now is the time. A time when there is a global geopolitical conflict and when there are great inflationary fears. According to all these macro factors, Bitcoin should be moving down. But this is not so.” Track all the movements by yourself with bitcoin 360 ai
By studying Bitcoin’s HODL waves, Nicholas Merten concluded that this indicator has not changed in over a year. The expert notes that the volume of bitcoins held was 63-64%, which is the highest figure since August 2020 and January 2016:
You want to know what happened every time we went above the 60 percent band? Whether the bear market capitulated or the correction was in the middle of the cycle, the rally began.
Instead, the well-known cryptocurrency analyst and trader Michael van de Poppe (Michael van de Poppe) believe that against the background of geopolitical tensions in Eastern Europe, bitcoin and ether will fall in price to record lows. Popular cryptocurrency analyst Benjamin Cowen agrees with his prediction. He expects Bitcoin to fall further as fear and uncertainty grip the markets.