Economist and market analyst Henrik Zeberg has made his newest bullish prediction for Bitcoin, predict The main cryptocurrency may surge to between $115,000 and $120,000.
Zeberg predicts an increase to $95,000 to $100,000 in December 2022, revising his forecast based mostly on his personal enterprise cycle mannequin.
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Is Bitcoin about to breakout?
Regardless of usually bearish market sentiment on the finish of 2022, Zeberg maintained an optimistic outlook, a view he nonetheless holds at present. He famous that whereas many predicted an “imminent crash,” the market bottomed in October 2022, setting the stage for the potential rebound he now expects.
In a publish uploaded to X at present, Zeberg reminded his followers of his earlier predictions, emphasizing that he was bullish on Bitcoin even when others weren’t. He adjusted his goal upward, bringing his forecast in keeping with what he sees as “creating optimism” within the U.S. market.
Though Zeberg didn’t specify a timetable for Bitcoin to succeed in these new highs, he stays assured in his prospects, though he admitted {that a} extreme recession is coming, which he expects to be worse than 1929.
bear in mind!
In December 2022, everyone seems to be bearish!
I am bullish!
We’re advised that “the crash is coming” – although the market bottomed in October 2022.
Based on my enterprise cycle mannequin, I reject #recession I set a purpose then… https://t.co/1rw4DVLtKA
— Henrik Zeberg (@HenrikZeberg) August 23, 2024
Market Sentiment and Different Bullish Forecasts
Zeberg’s bullish prediction isn’t the one one suggesting Bitcoin costs will attain six figures. One other well-known cryptocurrency analyst just lately printed an article on Crypto Jelle on X shared A equally optimistic outlook. Based on Crypto Jelle, the worth of Bitcoin may very well be as excessive as $180,000.
He factors to the bullish bullhorn sample that has developed over the previous six months as a key indicator of this potential value goal. Crypto Jelle famous that the mannequin’s purpose stays unchanged and he believes Bitcoin might get nearer to it within the fourth quarter of this 12 months.
After 6 months of consolidation, this bullish bullhorn nonetheless has a goal of $180,000.
There’s an attention-grabbing feeling that season 4 will carry us nearer to that purpose.
Maintain on tight and benefit from the journey. #bitcoin pic.twitter.com/i0Kc8vCv3n
— Jelle (@CryptoJelleNL) August 23, 2024
Zeberg and Crypto Jelle’s predictions come amid a sluggish restoration for BTC, which can see the worth climb again to $61,000 and commerce at $61,484 on the time of writing. Regardless of the sluggish value restoration, Zeberg and Jeller nonetheless consider Bitcoin is poised for important positive aspects.
Nonetheless, Zeberg additionally warned traders that whereas the market could also be headed for a major prime, it may additionally fall sharply.
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He predicts that the approaching recession will set off a extreme bear market, which is predicted to unfold in two phases: a “deflation” section, adopted by a “stagflation” section, with the Federal Reserve intervening in 2025, with the Federal Reserve intervening in 2025. A short rebound.
Featured picture created utilizing DALL-E, Chatt from TradingView
