A lot of Bitcoin-related predictions have been flooding the crypto space, and some of them have been extremely bullish.
The truth is that bulls did come back in the market this month and this triggered a tremendous enthusiasm.
BTC could drop again
YouTube’s most important crypto analyst has another prediction. Nicholas Merter, the owner of the DataDash channel on YouTube said that Bitcoin could drop again at around $4,200.
He said that there is a key metric that is pointing to a heavy case of crypto whale FOMO this month.
He also said that there’s this massive fear of missing out and this led to big BTC buyers to purchase the most important digital assets on traditional crypto exchanges apart from OTC.
A wave of big players is approaching
He pointed out that the rising number of BTC transactions is evidence of the big players getting into the crypto space and this number is at its highest number since the last bull run.
“You’re not only getting a little bit of FOMO and a little bit of trading, after what was such an amazing leap of volume and price action. But ever since we had this buy candle come in [on April 2nd] and the price action held these levels, I think it proves substantially that we’re actually starting to get some people buying around this range who are much larger-scale investors. Predominantly those who would be buying OTC,” he said.
He explained that the reason for which people are rushing to purchase BTC in such huge amounts on the spot rather than via OTC is that there is a bit too much demand.
He said that BTC would surge to $6,000 before it drops to $4,200. This will reportedly be the last chance to buy BTC before the huge bull run that is supposed to follow.