Nicholas Merten from DataDash addresses the big question: "What's happening with Bitcoin?" After seven months of stagnant prices, both bulls and skeptics are confused. Merten believes this stability shows Bitcoin’s shift to a mature asset, behaving more like gold - stable, reliable, and less explosive than in past cycles.
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Merten attributes Bitcoin’s sideways trend partly to selling by major holders, including governments like Germany and the U.S. Although Bitcoin ETFs were expected to increase demand, inflows haven’t offset the selling.
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According to Merten, ETFs alone won’t drive Bitcoin to extreme highs; consistent large purchases (30,000 to 50,000 Bitcoin monthly) are essential, which hasn’t yet occurred.
Looking ahead, Merten sets a realistic target of $90,000 this cycle, assuming institutional interest strengthens. He adds that Bitcoin may continue to rise steadily rather than experiencing past volatility, becoming more like traditional assets.
In the broader crypto market, Merten notes altcoins face similar struggles. He advises waiting for clear trends instead of joining choppy movements, as high multiples are less likely now in a crowded market.
Finally, Merten highlights that ongoing security issues, like fraud and hacks, deter new investors. For sustainable growth, he says, crypto must become safer. Until these fundamentals improve, investor interest may stay limited. In short, Merten advises patience and waiting for real momentum before making big moves in crypto.
