Bottom Or Not What’s The Worst- Case Scenario For Bitcoin| Nicholas Merten

Bitcoin bottom in or not? Well for the past few days Bitcoin has been bullish with it trying to hold the $20,000 market support price.In a strategy session with a renowned crypto analyst with Nicholas Merten told he’s audience on YouTube that we shouldn’t feeling excited yet, as when bitcoin hit the market price of below $18,000 which was at the early hours of on Saturday . In he’s words He said that;

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“I don’t want people to get too caught up in the excitement. While I do feel we could see another day or so of gains, maybe even coming back up to this range here around $22,300, I want to emphasize the difference between where we are now, this 75% correction, and what an 80% correction might look like. One of the biggest difficulties that some people have is understanding how percentage declines can get exponentially worse, even though you’re only moving down technically in the sense of percentage terms by a couple of single-digit points.

Well during the session he continued by saying that the 80% correction which the market is currently experiencing isn’t the end of it that we might possibly see bitcoin go from $17,500 to $13,700 there after testing $14,000 which was bitcoin current price back then in 2019. We might possibly see it below which will be influenced by macroeconomic volatility, he believes on market corrections is that they grow weaker over time and from the look of things it is gradually happening.
As of the time of writing this report Bitcoin is trading below $19,999.
Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity.

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