Bitcoin and Altcoin Implosion Predicted by Crypto Analyst Amid Recession and Stock Market Collapse

A prominent crypto analyst forecasts the implosion of Bitcoin (BTC) and alternative cryptocurrencies because he anticipates a recession and a stock market crash.

Nicholas Merten, the presenter of DataDash, tells his 511,000 YouTube subscribers in a new strategy session that Bitcoin supporters are banking on a sustained rally following BTC’s breakout performance to start the year.

However, according to Merten, cryptocurrencies are likely nearing the end of their rally, as he believes the Federal Reserve will not establish the necessary conditions to ignite a new bull market.

“The Fed will be unable to stimulate the risk-taking behavior seen in a typical bull market, particularly in alternative assets such as altcoins, which are inherently risky. This does not indicate that the markets are prepared for a sustained uptrend. If anything, this suggests that the upcoming weeks and months will likely see a decline in the magnitude of the relief effort.”

Merten continues by stating that investors should anticipate an imminent recession and be wary of narratives centered on BTC surging to $1 million as a result of the economy collapsing.

“If you want a small amount of exposure or want to protect your fortune, all you need is fractional exposure. You do not need to fully commit to something. Even if the entire system collapses, you will continue to earn excellent returns, hedge your portfolio, and preserve your wealth.”

Read Also: Sphere 3D sues Gryphon Digital Mining for the transmission of bitcoins

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.