cryptogazette.com
The optimistic predictions in the crypto space continue, and this time, there are centered around the king coin Bitcoin.
New BTC price prediction is out
It’s been just revealed that crypto analyst Nicholas Merten thinks it will be a couple of months before Bitcoin (BTC) exits out of this current sideways accumulation period.
Merten just said that he thinks BTC will break out in late January or early February.
Merten said the fact that it’s possible for Bitcoin to potentially break the concept of expanding cycles.
Just in case you don’t know, this is the idea that each bull market becomes slightly longer than the last.
“I’ll even go ahead and say this: It might be that we see the expanding cycles theory broken to some degree, and we go all the way to $200,000. But that is the really optimistic narrative here.”
He continued and explained the following:
“[That is a] 78% price move from where we stand at the moment, over three trading months. Doesn’t seem like a crazy ask to me. Seems like a quite conservative estimation, according to the data science that we have, expanding cycles, and how we know crypto can move. Crypto can easily make a 70-80% move within this timeframe.”
At the moment of writing this article, BTC is trading in the red and the king coin is priced at %56,379.
BTC addresses reach new ATH
The other day, we were revealing that despite Bitcoin’s price correction this month, the number of addresses with a BTC balance has surged to an all-time high, according to the crypto insights firm Glassnode.
The number of Bitcoin addresses with a non-zero balance hit a new all-time high last week, Glassnode said.
The number of #Bitcoin addresses with a non-zero balance has reached a new all-time high of 38.76 million addresses.
The previous high of 38.7 million was set seven months ago on April 23rd, taking 213 days to fully recover.
Live chart: https://t.co/jbyYVmnwcH pic.twitter.com/Fxa9MMwhaW
— glassnode (@glassnode) November 23, 2021
There are all kinds of optimistic crypto predictions these days following the latest market correction.