An analyst closely followed in the crypto space is targeting much lower prices for Bitcoin (BTC) despite the crypto king being well off its lows for the year.
In a new strategy session, Nicholas Merten tells his 511,000 DataDash subscribers that Bitcoin appears poised for a sustained downtrend in the coming months, and shares a chart forecasting a rapid drop to about $12,000 for BTC by September.
“We are getting very close to being at the turning point where Bitcoin’s price could be setting up for that short where we’re going to get a flip on the weekly timeframe on our key momentum indicator.”
Source: DataDash/YouTube
Merten also says that while Bitcoin has historically been correlated with technology stocks, he highlights that BTC is now
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