In a recent episode of the “Bloor Street Capital” podcast, Henrik Zeberg shared his predictions for a highly volatile year in financial markets.
Zeberg is known as a macroeconomist and financial analyst, particularly recognized for his work in the field of technical analysis and macroeconomic forecasting. He is the founder of The Zeberg Report, a platform where he shares his insights and predictions about global financial markets, including stock markets, commodities, and cryptocurrencies.
Zeberg’s approach often involves a combination of technical analysis, which focuses on market trends and price movements, and macroeconomic perspectives, which consider broader economic indicators and global financial trends. He is known for providing detailed market analyses and forecasts, often discussing potential future scenarios in various financial markets.
Zeberg’s analysis suggests a year of extreme volatility for the stock market. He predicts that the S&P 500 will reach record highs, an optimistic outlook for the short term. However, he warns of a subsequent market crash, which he believes could be worse than the historic crash of 1929.
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Zeberg is referring to the Wall Street Crash of 1929, also known as the Stock Market Crash of 1929, which was a major and severe global economic downturn. This crash began in late October 1929 and was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its fallout. The crash, which followed the London Stock Exchange’s September crash signaled the beginning of the 10-year Great Depression that affected all Western industrialized countries.
Zeberg’s views on cryptocurrencies, particularly Bitcoin, are strikingly bullish. He predicts that Bitcoin will experience a meteoric rise, describing its trajectory as “going absolutely ballistic” and “going vertical.” His minimum target for Bitcoin is $115,000, but he considers $150,000 a more likely outcome and doesn’t rule out the possibility of it reaching as high as $250,000.
The economist attributes this expected surge to a FOMO (Fear of Missing Out) effect among investors. He believes that those who missed out on previous crypto rallies will be eager to participate in this one, especially if Bitcoin starts to surpass current levels. Zeberg suggests that the announcement of a spot Bitcoin ETF or a similar trigger could catalyze this rapid movement, although he asserts that such a trigger is not necessary in his analysis. The structure of the market itself, according to Zeberg, indicates the potential for a swift and significant rise in Bitcoin’s value.
Zeberg extends his bullish outlook to other riskier assets, including altcoins. He predicts that these assets will perform exceptionally well in the first four months of the year, driven by investor enthusiasm and a desire to capitalize on potentially lucrative opportunities.
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- Source: https://www.cryptoglobe.com/latest/2024/01/macro-economist-henriz-zeberg-says-bitcoin-will-be-going-absolutely-ballistic-in-2024-reaching-at-least-115000/
