Cryptocurrency analyst Nicholas Merten said, that believes in the achievement of the bitcoin rate $100 000, but this year is hardly worth counting on
According to him, BTC's relatively mild reaction to the launch of a bitcoin futures ETF is a clear signal, that a major change of course will require much more effort, than intended:
"In the fourth quarter of this year, bitcoin has no chance to get to $100 000 or $150 000. The same goes for the first quarter. 2022 of the year. Very sorry, but we must admit the obvious and most analysts are wrong, if you think otherwise.
The reason lies in the bitcoin ETF based on futures, which have long been expected as catalysts for the market. But they couldn't get Bitcoin up to $100 000. What other macro event can attract institutional investors and bring the capitalization of BTC to several trillion dollars??»
According to the analyst, as a result, BTC will end the bullish market cycle at the mark $200 000. But it won't happen because of a sharp rise in the next couple of months., and the process will last until the end of next year:
"If we imply the prospect of growth in the capitalization of BTC to $3 – $4 trillion (i.e, well $150 000 – $200 000), then it will require decent liquidity, and therefore time. That's why I expect the cycle to peak in November. 2022 of the year"
