Nicholas Merten from DataDash recently discussed why Bitcoin could be gearing up for a significant price move. He pointed out that Bitcoin has reclaimed key moving averages, a strong indicator of a potential bullish trend.
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In addition, Bitcoin ETFs in the U.S. have seen inflows of around 30,000 new Bitcoin in October, signaling growing demand from institutional investors.
Merten also highlighted altcoins, noting that smaller and mid-cap coins could soon experience major price gains. He emphasized the importance of watching for breakouts above the 200-day moving average, which could signal a rally. However, he cautioned investors to take profits as prices rise, rather than holding out for extreme returns.
While Merten is optimistic, he advises caution, especially given that Bitcoin’s potential gains this cycle may be limited to around $90,000. Investors should stay sharp, watch key indicators, and avoid getting too greedy in what remains a volatile market.
