Henrik Zeberg, Swissblockâs chief macro strategist, forecasts considerable fluctuations in Bitcoinâs price during the last quarter of this year. In a recent social media update, Zeberg suggested that current market dynamics align with a critical juncture he anticipated two years ago.
What Are Zebergâs Updated Predictions?
Zeberg confirmed that the predicted low from November 2022 has been achieved. With the S&P 500 index currently at 5770, he has adjusted his targets to fall within 6100-6300. For Bitcoin, a revised pricing expectation now ranges between 115,000 and 123,000 dollars.
How Do Other Analysts View This Outlook?
Contrarily, some analysts, including Benjamin Cowen, express skepticism regarding Zebergâs optimistic outlook. Cowen cautions that Bitcoin may experience stagnation for a couple of seasons before potentially regaining upward momentum.
- Zebergâs target for Bitcoin suggests a potential rise of 98% from its current trading price of 62,700 dollars.
- Recent labor market data indicates a balance in recession fears, which could impact Bitcoinâs performance.
- Investors need to cultivate diverse strategies in response to varying analyst opinions.
Bitcoinâs current trading price stands at 62,700 dollars, and if Zebergâs projections hold, a surge to 123,000 dollars could materialize. He anticipates a significant âblow-off topâ in Q4 that may culminate in a subsequent decline.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.