Bulls Still in Control Despite Bitcoin Dip Below $40,000, Says Crypto Analyst Nicholas Merten – Here’s Why

One popular crypto analyst says that Bitcoin (BTC) will reach astounding new heights within the next year.

In a new YouTube update, DataDash host Nicholas Merten tells his 515,000 subscribers that the bulls are still in control of the crypto markets despite recent fluctuations.

“Sure, the market isn’t exciting at the end of the day, at least right now. But it never is exciting when accumulation to starting to happen, when a trend set up is beginning to build. That’s an important thing to understand here…

If you want to wait to buy Bitcoin until it’s trending higher, be my guest. That’s totally fine. I’m not going to give you guys grief about whether or not you want to buy Bitcoin or not now. That’s not my aim here. What I want to focus on is the important fact that it takes time, especially in this cycle or bull market, where credit is driving cycles upwards and downwards. We need to understand that it’s going to take time.”

Merten says the late spring and early summer of 2021 was when Bitcoin began to rebound higher, and since then it has established higher lows and higher highs, which he believes is showcasing that the bulls are still in charge, no matter how shaky things look.

With the bulls still in control, Merten also makes a continued bullish case for Bitcoin over the next year, with a price target between $150,000 and $200,000.

Bitcoin is trading for $39,284 at time of writing.

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