Bitcoin To Soar by up to 98% in a Blow-Off Top Move, According to Economist Henrik Zeberg – Here’s the Timeline

The head macro strategist at Swissblock is predicting major moves for Bitcoin ( BTC ) in the final quarter of this year.

Henrik Zeberg tells his 155,900 followers on the social media platform X that market conditions have reached a critical point that the macro strategist predicted two years ago.

“We have now reached the bottom of my forecast from Nov. 2022.

SP500 is at 5770.

I have refined my targets for the SP500 in blow-off top to 6100-6300. As we get closer – the Fibonacci levels become more precise.

For BTC, the target is now $115,000-$123,000.

Blow-off top will explode into this last quarter of the year. But there is an End.

Recession IS coming.”

Source: Henrik Zeberg/X

With BTC currently trading for $61,999 at time of writing, a rally to $123,000 would represent a 98% increase for the flagship cryptocurrency.

Not every trader is so bullish on BTC’s immediate future. Crypto analyst Benjamin Cowen tells his 862,400 followers on the social media platform X that BTC could spend a season or two slowing down before things speed back up.

“In April, I said Bitcoin would cool off for six-nine months following its ‘mid-cycle top.’

It has been six months, so the time-based component has reached the minimum consolidation.

If there is a labor market scare later this quarter, it could cause BTC to drop again (potentially to the 100-week simple moving average), taking the consolidation to nine months like last cycle.

Probably should be hedged for either scenario.”

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Featured Image: Shutterstock/80’s Child/Andy Chipus