Analyst Merten stated to 515,000 YouTube subscribers that Bitcoin (BTC) may still decline, but it is unlikely to fall to the level of $ 30,000. Nicholas Merten, who conveys his analysis to over half a million Youtube subscribers on his channel named "DataDash", thinks that the leading crypto Bitcoin (BTC) may still decline, but it will not go down to the level of 30 thousand dollars as claimed.
Merten answers the question of whether the Bitcoin (BTC) price will regress to 30 thousand dollars or not, with the following words.
“The biggest question on many people's minds is whether Bitcoin (BTC) will see a crazy sell-off that will cause it to drop to the $30,000 level.
I'll be honest with all of you, maybe it's worth another $1,000. However, I don't think it will regress to the $30,000 band and I will stand by that thought."
According to Nicholas Merten, the decreasing supply of Bitcoin (BTC) and the constant fixing of the lowest level can be shown as the most important reasons why it is unlikely that the asset will fall to $ 30,000.
"Bitcoin's bottom is getting higher over time. I know a lot of people think that prices will drop and we'll be back in the $30,000 range. But given the shrinking supply, I don't think that will be the case."
Analyst Nicholas Merten also emphasized that the number of people who have been holding Bitcoin (BTC) for more than a year has increased, which has helped shrink the supply.
According to CoinGecko data; Bitcoin (BTC) price is hovering around $39,701 at the time of writing, while the last 24-hour trading volume of BTC is $27,787.64,726.