A widely followed crypto analyst is warning that the total market capitalization of Bitcoin (BTC) and other digital assets could collapse.
In a new strategy session, DataDash host Nicholas Merten tells his 512,000 YouTube subscribers that the total crypto market cap could see a whopping $440 billion decline from its current value.
He also says that Bitcoin could see a more than 43% drop from its current price.
“The best-case scenario here for those who’ve already positioned themselves is that we’re going to find support prior lows at around the $650 billion market cap range or for Bitcoin likely around that $15,000-$16,000 range.”
The total market cap for digital assets at time of writing is $1.092 trillion. Bitcoin is trading for $26,584 at time of writing, down 0.8% in the last seven days.
Merten bases his market cap prediction on liquidity contracting further due to the Federal Reserve’s continued hawkishness, which is also weakening the performance of stocks.
“If big t
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