Macro strategist Henrik Zeberg is predicting Bitcoin (BTC) will make a giant transfer to the upside any day now.
In a brand new interview on the Bloor Road Capital YouTube channel, Zeberg says Bitcoin may soar greater than 64% from its present worth by the third quarter of the yr.
“In January I mentioned $110,000 to $115,000 on Bitcoin and I follow that. I feel we’re hours or days away from a giant transfer beginning once more. We had a giant transfer on [May 20th]. I feel that was just the start. Now we’ve been consolidating for just a few days, and I feel we’re going to see a really, very huge transfer coming into mid-June, however an uptrend with consolidations, pullbacks…
August to October, I might say that is the timeline. It’s extra concerning the ranges that I must see. I must see up above $105,000 for Bitcoin, $110,000, after which I must see the S&P round 6,000. Then I’ll begin to develop into extra apprehensive. These are the degrees. Timeline-wise, Q3.”
Bitcoin is buying and selling for $70,090 at time of writing, up practically 2% within the final 24 hours.
The strategist additionally predicts a US financial recession earlier than the top of 2024.
“My timeline for now’s that I see that the recession most likely units in by This autumn this yr, may very well be October, November, December. And I feel the inventory market will prime out two months earlier than that. So which means in Q3, doubtlessly October or so, however proper now it’s August, September. That’s my timeline for that.
That’s my greatest estimation based mostly on what I see. There may be nothing that tells me that we must always go above this. We have now on varied belongings we begin to see weaknesses are available. We begin to see weak point in Europe. We begin to see weak point in Asia within the Nikkei, within the Nifty as nicely. So I feel you’re going to see the highest within the inventory market in Asia and Europe setting in earlier than you see it within the US, and also you’re going to see a rotation of capital from Europe, from Asia into the US.
In order that’s why I’m saying I’m not bullish throughout all markets. I’m bullish the US market at this level. I’m bullish small caps as a result of I additionally suppose there’ll be a rotation from from giant caps into small caps as we get into the ultimate part of this enterprise cycle.”
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