Economist Henrik Zeberg continues to share his optimistic predictions for Bitcoin. Zeberg believes Bitcoin could reach $78,000 this week, largely influenced by the upcoming U.S. election results.
Zeberg’s Price Prediction for Bitcoin
In a recent interview on CryptoBanter with Ran Neuner, Zeberg expressed his view that Bitcoin is set for a strong upswing. He highlighted the potential for a significant price increase in the days following the election, saying, “I’m seeing a strong movement in the charts. This typically happens after elections, and I expect the same for Bitcoin. We could surpass $78,000 on Tuesday with the election results.”
Stock Market Outlook
While Zeberg is bullish on Bitcoin, he cautions that it may soon be time to exit risk assets like Bitcoin and stocks. He suggested the Dow Jones might have already peaked or be close to a major correction, even projecting a potential 60% crash in line with a possible U.S. economic downturn. “These candlesticks show the market is nearing a peak. The Dow could drop to 44,500 points. Currently, I hold long positions in both crypto and stocks,” Zeberg explained.
Long-Term Targets for Bitcoin
Zeberg remains optimistic about Bitcoin’s long-term trajectory, targeting a range of $115,000 to $123,000 based on historical resistance levels and previous bull runs. He also noted that the current market trend may be nearing its end, hinting at a possible shift in direction soon.
This anticipated volatility in both Bitcoin and stocks could prompt investors to re-evaluate their strategies. Zeberg’s insights provide valuable cues for those focused on market dynamics, especially given the broader economic uncertainties.
As Dey There continues to cover market trends, Zeberg’s predictions underscore the importance of robust risk management strategies for investors, particularly in times of heightened market volatility.
Bitcoin, Henrik Zeberg, U.S. election, Dow Jones, risk assets
