Bitcoin’s Potential Upward Movement
Macro strategist Henrik Zeberg predicts that Bitcoin (BTC) is poised for a significant upward movement soon. He maintains his earlier forecast that Bitcoin could reach $110,000 to $115,000 by the third quarter of the year, potentially soaring over 64% from its current value of around $70,090. Zeberg suggests that Bitcoin is on the verge of another major increase, similar to the move seen on May 20th, and anticipates significant gains by mid-June, with a trend of uptrends and pullbacks continuing into August to October.
Predictions of a US Economic Recession
Zeberg also forecasts a US economic recession likely by the end of 2024, possibly starting in Q4 this year, around October, November, or December. He believes the stock market could peak about two months prior to the recession, suggesting a potential top in August or September. Zeberg notes emerging weaknesses in various global markets, particularly in Europe and Asia, anticipating capital rotation from these regions into the US market.
Bullish Outlook on the US Market
Consequently, Zeberg remains bullish on the US market, especially on small-cap stocks. He expects a shift from large-cap to small-cap investments as the business cycle progresses. He anticipates that as weaknesses in global markets persist and the US market remains strong, capital will flow into the US, benefiting small-cap stocks in particular.
Source:
