Cryptocurrency influencer joins bulls with a $50,000 end of year valuation for Bitcoin based on failings in the fiat market.
Merten Says Bitcoin will go to $50,000 in 2018
Nicholas Merten, whose dedicated Youtube channel ‘data dash’ has nearly 300,000 followers, is an entrepreneur and investor in the crypto space with a wide-reaching influence who occupies a position somewhere between John McAfee and Tom Lee. When he tweets his opinions and predictions to his over 34,000 followers he can cause a change in trends.
His latest prediction that has Bitcoin at more than double it’s 2017 high by the end of the year relies on some major failings in the fiat market. In his Tweet Merten lists four factors he believes will push the price of Bitcoin up to highs never before seen.
My predictions for 2018:#Bitcoin will be $50K by the EOY. Why?
– Interest rates will continue to rise
– Deutsche Bank will go under by the 2018
– Equities and housing prices will take a massive hit
– With trillions of $'s that need to exit, the SEC will create a Bitcoin ETF— Nicholas Merten (@Nicholas_Merten) May 27, 2018
Merten is a known crypto evangelist but even a few of his followers questioned his reasoning in the tweet. A follower who uses the handle Sammy Tommy pointed out that interest rates have no correlation with cryptocurrency prices and that though Deutsche Bank is restructuring, there is no way a bank of that size is going under by the end of the year.
When another follower asked for his prediction on the year-end crypto market cap Merten wrote that in his model it should go to $1 trillion. Among market predictors, Merten seems to occupy the middle ground between the antics of John McAfee who trades on his image of being a maverick in any space he occupies (Merten also shows himself on Twitter with guns) and the Tom Lees and Brian Kellys who bring a more traditional buttoned-down aspect to market predictions when they appear on shows like CNCB’s Fast Money.
Bulls Predicting Prices from $15,000 – $100,000
No matter if they are talking about the collapse of fiat banks or soberly discussing their charts and graphs all of these bulls are calling for a big number for Bitcoin in the fourth quarter. Despite Bitcoin falling below $8,000 again over the last week, Tom Lee sticks by his year-end prediction of $25,000 which relies on regulation clarity to open up the floodgates of institutional money.
Oddly John McAfee, who has promised to eat his own manhood live if Bitcoin doesn’t reach $1 million in 2020, is calling for Bitcoin to reach $15,000 by June which he says will be on track to meet his million dollar prediction according to his magic algorithms.
Though $50,000 is at the high end of the prediction spectrum it’s only half of the high point, CEO of China’s first Bitcoin exchange, Bobby Lee, called for when he said Bitcoin will end the year at a $100,000 double that and reach a million which would mean Lambos for all and save John Mcafee from a very awkward meal.
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fujak 
kelly 
Streeter07 
william 
John Wayne 
oh how conveniently timed…..again!!!
“Deutsche Bank will go under by the 2018” as soon as I read that I knew this guy was a F’n idiot.
I’ll tell you what he really wanted to say: “I just purchased a sh#$ load of BTC at $12K and if it takes another hit (WHICH IT WILL I’M SORRY TO SAY), I will go broke!!!, so please please please bulls (that are non-existant) save my ar#$”.
Listen the worse thing that can happen to BTC’s price is if big players truly enter the market (which they haven’t yet by the way despite BS reports). They will not be looking to buy BTC at $7K, $5K or even $4K. They will be looking to enter at around $1K-$2K. Then push it to ATH which would be about $35-$38K then dump the living life out of it to it reaches the levels they entered and continue doing the same cycle over and over again until they’ve bled the market dry with the carcasses of idiots like this.
Now if you’re smart you can nibble whilst the big money keeps the washing cycle going and make some really great money. The party will end though folks so enjoy it I say. Just trade the life out of it, because that is all BTC has become a highly volatile tradable instrument that is unregulated.
To make big $ in the stock market or forex over a short term you need big $$$$$$. Not so with crypto if you know how to trade. With about $1K-$5K if you’re good you can turn it into a million over 12 month. But only because the market is still unregulated and very volatile. But you can lose really quick too though.
The price of BTC is not run by news or what the crypto can or can’t do because to be honest it can’t do sh#$ right now, it’s just not accepted and never will be. The price is dictated by the exchanges who manipulate and biggish players that trade. That is it. No news, forums, conventions or any other piece of crap out there matters to those who are trading and making thousands of dollars per day.
So what bank are you speaking for?
It was a hype, and hype is over point…..final. Just wait for the new wave.
These guys and their predictions. They are just pumpers, pumping something with no real value behind it but the ether they are breathing.
Teka Tiawari
James Altucher
Jordan Belfort
The list goes on and on