Top Trader Predicts Imminent 550% Rally for Bitcoin (BTC)
Top trader Henrik Zeberg predicts a 550% rally for Bitcoin (BTC) in the near future. He also highlights the potential crash of major markets and sets a new target price of $175,000 for BTC.
Posted 10 months ago in Bitcoin
Top trader and macro economist Henrik Zeberg predicts that Bitcoin (BTC) is on the verge of a significant rally, with a potential increase of 550% in the near future. Zeberg also expresses optimism about the U.S. stock market, but expects a crash in the largest markets in the medium term. He sets a new price target of $175,000 for BTC, which is 153% higher than the current all-time high in November 2021 and 550% higher than the current price.
In this hypothetical rally, Zeberg envisions the S&P 500 index reaching 6,100 and the Nasdaq index soaring to 27,100, resulting in parabolic runs for both stock indexes. He also highlights Riot Platforms Inc (RIOT:NASDAQ), a major Bitcoin mining company, with a potential target price of $130.
While predicting an end to the market recession in the U.S. in late Q4, 2023, Zeberg also warns of the possibility of a market collapse akin to the Great Depression in the long term. He suggests that following a "blow-off top," stocks, indexes, and cryptocurrencies are likely to experience a severe crash.
Despite some skepticism due to current market conditions, Zeberg's $175,000 price prediction aligns with the targets set by notable Bitcoin bulls such as Tom Lee of Fundstrat and Pantera Capital. However, it falls short of the more sensational targets set by figures like Cathie Wood, Mike Novogratz, and Robert Kiyosaki.
As of now, Bitcoin is trading at $26,738 with a 1.48% loss in the past 24 hours.
Last updated 9/21/2023, 10:24:54 AM
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