Tag: Datadash

Corporations Will Arrive to Crypto Markets Faster Than You Expect: Analyst Nicholas Merten

by Dailyhodl

Crypto analyst Nicholas Merten says that corporate investment into the crypto markets could be the catalyst that carries Bitcoin (BTC), Ethereum (ETH), and the rest of the crypto markets out of their current slump.

In a new YouTube video, the DataDash host tells his 508,000 subscribers that corporate treasurers will save the crypto markets sooner than many might expect.

“Corporate treasurers… could be the catalyst that actually carries us out of this recent correction that we’ve had in December and January. I do believe we are going to see it faster than we may expect.”

Merten notes that corporate treasurers are pickier than the average investors when choosing their entry points. The analyst says that with crypto markets trading at a big discount from their all-time highs, the big corporate players may be looking to rotate into nascent space.

“Corporate treasurers are not going to buy at new all-time highs. They buy when assets are at discounts. They rotate assets in their balance sheet, whether it’s up, you know, just basically cash, buying it on a discount, or maybe, for example, their equity plays have been doing really well, and now, they’re going to lock in some of those gains and rotate to fixed income assets like bonds or treasuries. Or into a new asset class, like cryptocurrencies.

That’s how a corporate treasurer thinks. They do not buy at peaks in price, they buy at discounts when no one else is willing to buy because they know that it’s just like shopping – it’s going out and finding things that you like at a discount.”

The analyst says it’s highly significant that KPMG Canada recently added Bitcoin and Ethereum to their balance sheet. According to Merten, the Big 4 accounting firm’s move could set the precedent for more corporate giants to make similar decisions.

“That is a major move for crypto assets… To have a traditional company like KPMG now starting to showcase that they believe that Bitcoin and Ethereum are tokens worth putting on their balance sheet. And on top of that, they did a great example of showcasing how if companies were to be concerned about the carbon emissions tied to Bitcoin or Ethereum through proof-of-work mining, that you can buy carbon offsets… they showcased how a large institutional company can do this in a way that meets their goals and services as a probable asset for corporate treasures.

That’s great news.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto Analyst Nicholas Merten Says Traders Sleeping on Ethereum (ETH) – Here’s Why

by Dailyhodl

Popular crypto analyst Nicholas Merten says that investors are currently overlooking leading smart contract platform Ethereum (ETH).

In a new strategy session, the host of DataDash tells his 507,000 subscribers that Ethereum’s Bitcoin pair (ETH/BTC) is flashing signals that suggest it is nowhere near the beginning of a bear market.

“If we take a look at the broader trend here against Bitcoin – and again this is probably one of the biggest key signals that we are not in a bear market – that this is not a time per se to panic.

All the while we’ve had this pullback, we’re setting in higher lows and generally consistent higher highs.”

Merten then says that while an examination of ETH’s last few weeks may appear bleak, the second-largest crypto asset by market cap is rebounding significantly faster than leader Bitcoin.

“Since we’ve started to see a bit of a bump in the market for BTC, it’s not just Bitcoin leading the way. Ethereum is rebounding even quicker. Of those lows we saw back at the end of January, we’ve been continuing to charter higher…

It looks exactly like a repetition of what we’ve seen back the past couple of times during these corrections.”

Merten says that ETH could break out sometime in March, possibly flipping Bitcoin in a massive rally.

“We’re going to be having some kind of breakout, a squeezing, a kind of coiling if you will, of price against [the] resistance point where things can really start to leapfrog higher going into the rest of 2022.

And this is where I really think genuinely that we’ve got a chance to be able to see the ‘flippening.’ A real reversal of Ethereum coming up as the top player in the market albeit probably for a short while…Ethereum might be able to come up and flip Bitcoin.”

Merten’s chart appears to indicate that he believes ETH could run as high as $10,000 at some point in mid to late 2022.

Ethereum is changing hands at $2,686 at time of writing, a 14% increase from its seven-day low of $2,353.

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Analyst Nicholas Merten Makes Massive Late 2022 Bitcoin Prediction, Says Latest BTC Crash Setting Bull Run Foundation

by Dailyhodl

Crypto analyst Nicholas Merten projects Bitcoin (BTC) could rally nearly 7x by the end of the year despite current market conditions.

In his latest YouTube update, Merten tells his 502,000 DataDash subscribers that Bitcoin’s recent market cap crash to $600 billion will set the foundation for the next bull run.

“If you look at this on the expanding time frame, it looks pretty reasonable. And, on top of that, when we take a look at the BTC market cap, it’s really interesting here… If we take a look at the previous cycle peak and align it with the lows, this has been a pretty important range of contest.

If Bitcoin can hold here, at $600 billion, that’s going to set the foundation for Bitcoin to spring up over the next coming months.”

The crypto analyst reminds his viewers that all rallies come from corrections and are often spurred by big money buying BTC at heavily discounted market prices. Understanding how big players buy, according to Merten, is the key to navigating the highly volatile crypto markets.

“Rallies are formulated [and] nurtured by liquidations, by corrections, by fear… because the only way you’re going to see this [market cap] increase is by larger players, the smart money, in this case, coming in at the time that they come in. 

Well, when do they come in? They come in during peak fear. They buy discounts…

We gotta respect them for that. We talk so bad about the larger players, but, to be honest, we just need to understand how they work, and we can navigate this market really well.”

As for price predictions, Merten indicates on a chart that he foresees Bitcoin rallying to $200,000 in November 2022.

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Source: DataDash/YouTube

Bitcoin is trading at $34,656 at time of writing, down 2% over the last 24 hours, 20% over the last seven days and 32% over the last 30 days.

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Here’s Why ‘More Pain in the Streets’ Is Necessary for Crypto Markets, According to Analyst Nicholas Merten

by Dailyhodl

A popular crypto analyst says that predictions of a Bitcoin (BTC) euphoric rise or an epic crash are both unlikely and that BTC may need to experience some pain before it can reach new all-time highs.

In a new strategy session, Nicholas Merten tells his 489,000 YouTube subscribers that he does foresee Bitcoin achieving a valuation of $200,000 late next year, but not before further tests of crypto investors’ mettle.

“What we are likely going to get is a rally to $200k somewhere in late 2022, but before we get that there’s a very good chance that we could roll over, that this [recent rally] is nothing more than a dead-cat bounce and that we are going to have to see more pain in the streets.

We need to see more pain in the crypto markets before we move higher.”

The DataDash host takes a look at the monthly chart to support his claim that Bitcoin’s recent upward price action was more likely a “dead-cat bounce” than proof that a major rally had begun.

“If you look at various exchanges, different volume data, the volume and the pullback we’re seeing here is equitably on par with what we saw back on the long side.

In the daily, the vast majority of this supposed rally in price or major breakout has back pulled now, and just within a matter of a couple of hours.”

Source: Nicholas Merten (DataDash)/YouTube

Merten says that he’s not feeling bearish about the crypto markets. He cites one key metric from previous bull runs, indicating how and why Bitcoin will rise next year.

“I think we’re seeing right now is something that has happened before in Bitcoin’s history during this bull market. It is one of the defining factors as to how this market is operating, utilizing massive amounts of leverage in order to drive each and every wave of the cycle.

If you look at a lot of the on-chain metrics, if you look at the number of new wallet addresses on-chain, if you look at the amount of wallet addresses holding a certain amount of Bitcoin.

Most of these major market metrics are not indicative of a major new wave of users coming into the crypto space.

What’s really been driving these rallies in value are the leverage platforms.

Crypto borrowing and lending platforms where you can basically borrow stablecoins or dollars from your crypto assets…

And that has been a big reason why each and every time we revisit these general previous highs after a long extended consolidation period, we’re getting these major breakouts.”

Bitcoin has had a rocky month, falling off a cliff from over $57,000 to under $47,000 on December 3rd into the 4th. The leading crypto asset has since recaptured $50,000 several times but has been unable to hold that key level.

At time of writing, BTC is down 2.9% on the day to $46,743.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Here’s When the Bitcoin Bull Market Will End, According to Top Analyst Nicholas Merten

by Dailyhodl

Top crypto analyst and influencer Nicholas Merten is predicting when the Bitcoin bull market will top out.

In a new video, Merten tells his 463,000 subscribers that when taking a look at previous Bitcoin bull markets, it does not appear that we are anywhere close to a top for the flagship cryptocurrency this cycle.

“Eleven years of price history… What’s really interesting is we see each cycle expands from anywhere from 11 months to 13 months. So if we were to follow history, we can add an additional 12 months here. Forty-seven months is the expected length of the cycle that we’re currently in… We are far from the expected 47 months – November of 2022 is when we should expect the top.”

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Even though many crypto traders and investors have lost interest in the market as we enter a sideways period, adds Merten, there’s not much to indicate that this is a Bitcoin top.

“Now everyone is so confident right now because the market has gone a lot more quiet… If you’re here right now, you’re a select few viewers who are sticking around.”

Although the trader does not believe Bitcoin has reached a peak this cycle, Merten does warn viewers that as more people enter the markets, and especially as they continue to trade with leverage, Bitcoin will continue to see intense highs and lows. He cautions that this pattern may trick those in the sector into believing that BTC is done, but in reality, it is far from its apex.

“Is this really a convincing market top, or is it just that we got overextended? With the increased amount of people borrowing credit on these derivatives platforms, these distortions, these exaggerated rallies and corrections are going to continue to happen.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Are Crypto Investors Cashing Out? Nicholas Merten Explains Liquidity Shift Among Whales and Traders

by Dailyhodl

Crypto influencer and analyst Nicholas Merten says liquidity in the crypto marketplace is shifting from Bitcoin to altcoins.

Bitcoin settled into a pattern of continually reaching higher highs and higher lows in price for the first few months of 2021, until partway through April, when BTC’s insanely bullish pattern was interrupted, Merten explains to his 444,000 YouTube subscribers.

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“The trend is reversing and liquidity is starting to circulate out of the market. Either people are cashing in and not getting back into the game, or it’s going elsewhere. And I’ve got to be honest with you all: As much as people think people are just cashing out, they’re going to the beach, they’re retiring – no.

Most people in this case in the crypto market, from the whales to the everyday investors, are recirculating their capital into other cryptocurrencies. So in this case, altcoins.”

Merten suggests that Ethereum (ETH) is prepared for a further run up, predicting that it will outpace the gains it made in April. He also notes that Bitcoin fork Litecoin (LTC) is poised to make impressive gains in its Bitcoin pair (LTC/BTC).

Next on the trader’s list of altcoins to watch is decentralized exchange (DEX) Uniswap (UNI), which launched its latest update, Uniswap v3, this Wednesday. Merten says the new iteration might signal “the catalyst for a breakout above its previous all-time highs against Bitcoin.”

Merten is also bullish on top oracle project Chainlink (LINK). At time of writing, LINK is up 32.3% in the past seven days, according to CoinGecko.

Additionally, decentralized finance (DeFi) as an overall sector is breaking out against Bitcoin, according to the analyst, providing an advantageous opportunity for traders to earn more BTC amid a new wave of investing.

The analyst notes that although eyes are still on the large cap plays, such as the ones mentioned above, mid-cap and small-cap projects may face a powerful rally in the near future.

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“It’s going to be about knowing what plays you need to watch in the small-to-mid-cap space, because it’s coming sooner than we think, in my opinion.

I mean from what we can see here on the metrics, small and mid caps are going to have their heyday very soon. It just might not be as crazy as the last few times around, because there are a lot of people trading more on the large caps than before. A lot of liquidity is still stuck there.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Analyst Nicholas Merten Says 6 Crypto Assets Primed To Blast Off As DeFi Supercycle Heats Up

by Dailyhodl

Crypto influencer and analyst Nicholas Merten is breaking down his top decentralized finance (DeFi) plays as the entire sector appears ready to skyrocket in value.

In a new video on the DeFi sector, the DataDash founder tells his 426,000 subscribers that we may be on the verge of witnessing a DeFi “supercyle” quite soon.

The trader says that of the many DeFi projects on the market, he is keeping an eye on six assets, in particular, the first of which is derivatives project dHedge DAO (DHT). Although Merten is not enthusiastic about many of the crypto derivative platforms on the market, he is quite bullish on DHT/BTC. The analyst says he uses the product and is personally invested in the token.

“Derivatives are a wide basket of different assets. They’re options contracts, futures contracts, all types of different ways that you can get exposure towards certain asset classes or indexes through derivatives or synthetic assets. And dHedge does something really cool… they’re built on top of the Synthetix (SNX) protocol and, to give you the one-sentence pitch, they allow anyone to become a hedge fund and allow other participants to invest and basically copy trade any fund… It’s an extremely powerful idea.”

Next on the trader’s list are the decentralized exchanges (DEX) SushiSwap (SUSHI) and Uniswap (UNI). Merten notes that both tokens look interesting from a technical perspective. Though Merten is only personally invested in Uniswap, he says that SUSHI/BTC appears to be at a bargain price compared to the levels it reached in January.

Another asset that Merten is interested in from a technical perspective is yield farming protocol yearn.finance against Bitcoin (YFI/BTC).

“I really don’t care about yield farming but yearn.finance and yield farming in general are plays that the market is watching and they are a part and component of DeFi… This is not a fundamental play for me. It’s purely a technical setup here. The longer the base, the bigger the breakout, and in DeFi, four months of consolidation sideways is really interesting to me.”

Fifth on the trader’s list is DEX aggregator, 1inch, which Merten notes looks appealing from both a technical and fundamental perspective against Bitcoin (1inch/BTC).

1inch not only solves a lot of the issues plaguing DEXs such as gas inefficiency, liquidity problems, or slippage, but its chart also appears bullish of late. Its market cap is also relatively low compared to UNI and SUSHI, sitting at just under a billion dollars. The asset was also added to top crypto exchange Coinbase this week.

The last play the trader is keeping an eye on is micro-cap Warp Finance (WARP/BTC).

Merten is an advisor to the project, asserting that it is one of the first protocols to utilize liquidity pool tokens as collateral rather than using volatile assets such as ETH or other ERC20 altcoins.

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Litecoin Forming ‘Ultimate Alpha’ Bullish Setup, Says Top Analyst Nicholas Merten

by Dailyhodl

Popular trader Nicholas Merten says Litecoin (LTC) is poised to significantly outperform Ethereum over the course of the next month.

In a new DataDash video, Merten notes that LTC appears to be bottoming out against Ethereum. The trader reveals that he allocated a significant chunk of his portfolio into the Bitcoin fork as he believes it may rise significantly in its ETH pair.

“At this range here, Litecoin historically did a 5x against Ethereum… That’s massive. And these are the types of ratios you guys should be looking for because this is how you actually return multiples upon multiples of what the market is generally getting.

This is the ultimate alpha here, if you really want to put it that way. There are not many greater opportunities than being able to find these kind of large cap plays that are already well established, that still have a chance to do crazy multiples against another play like Ethereum that’s already doing phenomenally well and leading most cryptocurrencies.”

Though the Merten does not provide a Litecoin price prediction, one chart Merten shares shows Litecoin surging towards $2,000 in the near future. LTC is currently trading around $220, according to CoinMarketCap.

However, the analyst notes that he is not closely keep an eye on Litecoin’s performance against the US dollar, and suggests that traders look at the technical setups flashing on the LTC/ETH and LTC/BTC charts.

“I don’t really think it’s a matter of watching the US dollar value chart. The biggest thing here we want to watch is the ratios. The ratios now are cheap. I’m not saying they’re going to go all the way up here and do a 5x against Ethereum. I think Ethereum’s got a lot of momentum now with decentralized finance (DeFi)… but I will say generally speaking whether… it’s a 100% return (2x), 200, 300, 400% return – whatever it is, this is a really favorable setup in my mind for the technicals…

This isn’t a fundamental argument. I’m not now fundamentally bullish on Litecoin comparative to where I was fundamentally bullish on it a year or two or four or five years ago. It’s about technical price patterns. Super cycles. Patterns that take years to set up.”

The DataDash founder notes, that as traders begin to set up their plays, they should have solid exit strategies in place and prepare to lock in profits early.

“I would say… be a little less greedy than other participants. If you can lock in those profits and then find other opportunities in the market that will position you much better… That’s the mindset I’m thinking about.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin (BTC) $ 27,416.35 0.70%
Ethereum (ETH) $ 1,640.32 1.72%
Litecoin (LTC) $ 64.37 2.96%
Bitcoin Cash (BCH) $ 229.72 5.82%