Nicholas Merten, founder and creator of DataDash, is a very popular analyst in the cryptosphere. In a new video, recently posted on his YouTube channel specializing in bitcoin and cryptocurrencies, he issues a warning to traders in the unclear context of a bull run.
Rise in the price of bitcoin (BTC), a trap for traders?
Between crypto analysts, opinions differ on the future of bitcoin and other cryptocurrencies. While Kaleo and Peter Brand expect the queen of cryptocurrencies to trade at $30,000 before long, Nicholas Merten is preaching another, rather depreciating, outcome for BTC.
Here is an excerpt from his speech reported by The Daily Hodl :
” I’m going to tell you about a really cold spot here that we need to keep in mind, and believe me, that’s why Jerome Powell follows the stock markets. Thus, the FED monitors what is happening in financial assets. We have to understand a very important dichotomy here… »
Merten also spoke of ” pitfalls for traders where, in general, asset prices will rise to the point where everyone is convinced…it’s the start of the next bull market “.
In his view, this kind of situation would push institutional investors to sell short. Given their weight and the volume of transactions they can order, they will manage to intentionally create ” dramatic downward moves “.
Thus, institutional players are able to make rain or shine in the crypto universe. They will therefore not hesitate to trapping traders in order to depress prices and absorb much of the excess liquidity causing economic inflation “.
A “cold winter” in perspective?
Last week, the same Nicholas Merten joined the Crypto Trading Secrets Podcast from Cointelegraph. In his intervention, the cryptocurrency trader pointed out that we are going through a “ consolidation period “.
So if bitcoin started its ascent as early as January 9, that’s just a “ period of massive restructuring “.
Since he started bitcoin trading very early, he recommends keeping an overview of the cryptocurrency market. And also this fake bitcoin bull run pretense. Nevertheless, it is worth mentioning that his prediction that 2022 will be the year of altcoins did not ultimately happen.
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