Famous crypto analyst said that Bitcoin value could drop by more than 60% due to an important factor.
In his statement to 512,000 YouTube subscribers, DataDash’s Nicholas Merten pointed out that if Apple’s market value continues to decline, there is a danger of Bitcoin’s value falling by more than 60%.
According to Merten’s statement, a possible decrease in Apple’s market value will lead to the collapse of Bitcoin and stocks. Apple, which reached a market value of $ 3 trillion in July, has now decreased to approximately $ 2.79 trillion.
“If Apple goes from a $3 trillion company to a $1.5 trillion company, that will impact Bitcoin. We have to live in a fantasy world to say this won’t happen. I would especially like to point out that such an event will have a much greater impact than Bitcoin halving or Bitcoin ETF.
If this scenario occurs, it is possible to say that Bitcoin may drop to a level between 10,000 and 12,000 dollars. I’m not saying it will definitely happen, but I believe it’s a possible scenario.”
Pointing out that Apple’s decline is significant, the analyst added:
“Apple’s $200 billion drop in market value makes sense. Although it may seem like a small drop, these small percentage drops affect the valuation of Apple and the shares of other companies such as Microsoft. This situation is getting worse. Bitcoin and altcoins are also affected by this.