Nicholas Merten, a crypto trader and the creator of the DataDash YouTube channel, joined Cointelegraph’s Crypto Trading Secrets podcast for an interview with host Benjamin Pirus, discussing a number of topics, including his opinions on the state of the crypto market. “I think that right now, we’ve been going through what can only be seen as a period of consolidation,” he said when asked about his thoughts on the price of Bitcoin (BTC) as of Jan.
9, the date of the interview.Bitcoin largely traded sideways for part of November and most of December. January, however, has seen the asset rise from below $17,000 to above $23,000.
Looking back at Bitcoin’s price chart shows the asset near the beginning of its ascent on Jan. 9, sitting in the low- to mid-$17,000 range.
Merten noted that he likes to look at the big picture. “I think crypto is going through again this period of massive restructuring that I think is going to be overall good for the space long term, but I think people quite underestimate just how long this could really play out,” he explained, adding:Throughout 2022, the crypto and blockchain space faced difficult times, seeing the collapse of multiple industry players.Read more on cointelegraph.com