Economist Henrik Zeberg continues to provide his insights on the future of Bitcoin, with a forecast that suggests the cryptocurrency could surpass the $78,000 mark this week. Zeberg attributes this potential surge to the impact of the upcoming election results.
In a recent interview on the CryptoBanter YouTube channel with Ran Neuner, Zeberg expressed his belief that Bitcoin is poised for significant growth. He specifically highlighted his expectation of a substantial increase in Bitcoin following the election outcome.
“The charts are showing a strong movement, which is typically seen after elections. I anticipate the same for Bitcoin. It’s possible that we could surpass $78,000 on Tuesday, coinciding with the elections,” Zeberg stated.
However, Zeberg also cautions that the exit from risky assets, including Bitcoin and stocks, may happen sooner than anticipated. He suggests that the Dow Jones Index may have already reached its peak or is approaching a significant correction phase. Zeberg presented a chart that predicts a 60% crash in the Dow Jones, which he believes could align with an economic recession in the United States.
“These candlesticks indicate that the market is nearing its peak. The Dow could potentially drop to 44,500 points. Currently, I hold long positions in both the cryptocurrency and stock markets,” Zeberg explained.
Based on historical resistance levels, Zeberg has set a target range of $115,000 to $123,000 for Bitcoin. He arrived at these targets by analyzing Bitcoin’s previous upward trends. He emphasizes that the current market trend is approaching its end and expects a shift in the near future.
The potential volatility in Bitcoin and stocks may prompt investors to reevaluate their strategies. Zeberg’s predictions provide valuable insights for those interested in understanding market dynamics.
Given the current uncertain environment, it is advisable for investors to strengthen their risk management strategies. Zeberg’s forecasts underscore the importance of being prepared for fluctuations in both the Bitcoin and stock markets.
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Disclaimer: The information in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry a certain level of risk. It is recommended to conduct thorough research before making any investment decisions.
