Despite Bitcoin’s (BTC) recent 10% decline, renowned economist Henrik Zeberg remains optimistic about the cryptocurrency’s near-term performance. Sharing his thoughts on social media platform X, Zeberg reassured his followers, “The Christmas rally is still alive.” He expects Bitcoin to reach a new peak soon.
A Record High Before a Major Crash?
According to Zeberg, Bitcoin’s current price of $101,784 is poised for a significant surge. “We’re not at the top yet, but we’re getting close,” he stated, noting the market’s faster-than-expected pace. The economist predicts that Bitcoin will surpass $108,200 before experiencing a sharp downturn.
However, Zeberg warns that this rally won’t last long. Following the peak, he foresees Bitcoin plummeting by 84%, potentially dropping to as low as $16,000. “My target after the inflationary peak is around $16,000,” he cautioned, urging investors to prepare for significant market volatility.
Altcoin Season and Euphoric Wave
Zeberg also anticipates a shift in market dynamics, with Bitcoin dominance decreasing and paving the way for a new altcoin season. “The most explosive phase of the altcoin season is near, and the market will experience a massive euphoric wave,” he said.
During this period, expert opinions are expected to turn overly optimistic. Zeberg predicts that this rally will reach its peak within weeks but warns that it will mark the end of the inflationary phase. Following this, the market could enter a prolonged bear market, which he refers to as the “Great Choking Market.”
Investor Strategy: Prepare for Volatility
Zeberg advises investors to brace for potential turbulence and reassess their strategies. He emphasized that the dynamic nature of the crypto market demands careful and informed decision-making. The developments in Bitcoin and altcoins are expected to have a significant impact on the broader market trajectory.
According to Dey There, this prediction underscores the importance of staying vigilant in a volatile crypto landscape. As Bitcoin approaches a potential new high, investors must balance optimism with caution.
