The Merseyside outfit have made a strong start to the new campaign and they currently find themselves in second place in the Premier League table and level on points with leaders Manchester City.
The Reds dropped their first points of the season in the Premier League on Saturday when they came from a goal down to earn a 1-1 draw against Chelsea FC at Stamford Bridge on Saturday.
That result came after they were knocked out of the League Cup at the hands of Chelsea FC last week.
Liverpool FC are now currently preparing for their second Champions League group game of the new campaign as they look to try and back up their 3-2 win over PSG in their group opener last time out.
The Reds are rightly being touted as genuine title contenders in both the Premier League and Champions League this season.
And former Arsenal star Nicholas is still standing behind Jurgen Klopp’s men as contenders – despite their recent mini slip-ups.
Speaking to Sky Sports, Nicholas said: “A draw and defeat in the last two games mean people are again asking: ‘Are Liverpool real contenders in both the Premier League and Champions League?’
“In my opinion yes they still are. However, you can now see you can get at them.”
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