Former Arsenal and Hoop striker Nicholas has urged Premier League target Hooper to stay in Glasgow until he is a bona fide superstar so he can avoid the fall from grace experienced by Miller who left Parkhead for Manchester United in 2004.
Miller departed Celtic after less than 30 matches but struggled at Old Trafford and has seen his career fall somewhat by the wayside with stints at Leeds United, Sunderland, QPR, Hibernian and now Perth Glory in the A-League.
"Hooper will leave for the English Premier League in the summer, but I wouldn't be rushing for the exit this month if I was him," Nicholas said.
"He would definitely find life much tougher south of the border. Defenders are stronger, quicker and make fewer mistakes.
"It's a big step up and there's lots of players who failed to make the grade.
"But it's encouraging to see my old club keen to keep their best players and not sell them at the first opportunity.
"They've offered Hooper the best deal they can but if it isn't enough, they'll sell him in the summer.
"I think £6million would be good business. He'll be a loss, but Celtic can make a healthy profit.
"But he has more to gain from staying until the end of the season."