Crypto analyst Nicholas Merten says that Bitcoin (BTC) will not fall to the level of 30 thousand dollars.
Analyst Merten stated to 515,000 YouTube subscribers that Bitcoin may still decline, but it is unlikely to fall to the level of $ 30,000.
“The biggest question on many people’s minds is whether Bitcoin will see a crazy sell-off that will push it down to $30,000.
I’ll be honest with all of you, maybe it’s worth another $1000. However, I don’t think it will regress to the $30,000 band and I will stand by my opinion”
According to the crypto analyst, the decreasing supply of Bitcoin and the constant fixing of the lowest level higher are the most important reasons why it is unlikely that the asset will drop to $ 30,000.
“Bitcoin’s bottom is getting higher over time. I know a lot of people think that prices will drop and we will be back in the $30,000 range. However, considering the supply shrinkage, I don’t think that will be the case”
The analyst also emphasized that the number of people who have been holding Bitcoin for more than a year has increased, which also helps in the supply contraction.
Bitcoin is trading at $39,689 at the time of writing, according to Binance data.
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