As a researcher with a background in macroeconomics and experience in analyzing market trends, I find Henrik Zeberg’s predictions intriguing. His bullish outlook on Bitcoin is backed by his observation of the recent consolidation phase following a significant move in May. Based on historical patterns, it’s plausible that we could see another major upswing around mid-June, leading to continuous uptrends with occasional pullbacks.
Macro strategist Henrik Zeberg is bullish about Bitcoin‘s value, predicting a significant price hike of approximately 64% by the third quarter of 2024. The Daily Hodl reports that in a conversation with Bloor Street Capital, Zeberg expressed optimism about Bitcoin hitting the $110,000 to $115,000 mark this year. He emphasized that the current period of consolidation suggests an imminent price rise.
As a researcher studying cryptocurrency markets, I’ve observed that Bitcoin experienced a notable price movement on May 20th, leading to a consolidation phase. Based on current trends, I anticipate another significant upward swing around mid-June, with continuous uptrends interrupted by occasional pullbacks. By August or October, I believe Bitcoin will surpass the $105,000 mark and potentially reach a target range of $110,000. Simultaneously, the S&P 500 is expected to approach around 6,000, which could signal concern for the broader market.
As of the time of writing, Bitcoin trades at $68,027, down 0.8% in the last 24 hours.
According to Zeberg’s predictions, there is a strong likelihood of the US economy entering a recession by the end of 2024, with the downturn potentially beginning as early as the last quarter. The stock market, in turn, is expected to reach its peak approximately two months prior to this economic contraction, which could occur around August or September. Zeberg arrives at these conclusions based on noticeable vulnerabilities within several key international markets, such as Europe and Asia.
Zeberg believes that the US stock market will continue to be robust in the short term, fueled by investors moving their funds from less vibrant European and Asian markets. Furthermore, as we approach the end of the economic cycle, he predicts a trend toward investing in small-cap stocks over larger ones.
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2024-05-28 12:53