Nicholas Merten from DataDash believes that Bitcoin and the overall crypto market are showing promising signs after months of little movement.
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Recently, Bitcoin has managed to hold above a key level - the 200-day moving average, hinting that it might be ready for a potential rise. Merten sees a possible high of around $90,000 for Bitcoin in this cycle, though he cautions against expecting massive returns, as past cycles have shown decreasing gains.
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Nicholas Merten highlights fresh opportunities in altcoins, especially meme coins. He points out that meme coins can deliver impressive short-term gains for traders who know when to get in and out, as these coins thrive on momentum. However, Merten is clear that the speculative nature of these assets means they come with high risks.
As U.S. stocks also approach key levels, Merten suggests that if traditional markets continue upward, crypto could follow, potentially offering strong returns for traders prepared to manage the volatility.
