Henrik Zeberg, a seasoned trading guru, predicts an impending 550% surge for Bitcoin (BTC), despite the cryptocurrency’s (BTC) continued dismal market performance. He is also quite positive about the U.S. stock market, but in the medium term, he anticipates a meltdown in the main markets.
$175,000 for BTC: New price target by Henrik Zeberg
Both Bitcoin (BTC) and equities that are listed on the NYSE are at a “buy-the-dip opportunity” stage. Their indications will surge to new highs once it is finished. According to researcher Zeberg, the largest cryptocurrency, Bitcoin (BTC), may reach a high of $175,000 during this hypothetical run. It is 550% more expensive than the current price and 153% more expensive than the all-time high reached in November 2021.
https://x.com/HenrikZeberg/status/1704732114107658474?s=20
The S&P 500 index will soar to 6,100 during this magnificent surge, while the Nasdaq index may top out at 27,100. It would indicate historically unheard parabolic runs for both market indices.
Zeberg had high hopes for Riot Platforms Inc. (RIOT:NASDAQ), one of the biggest and most technologically sophisticated publicly traded Bitcoin (BTC) mining firms. While RIOT is attempting to hold the $10 level as of the time of publication, the chartist has it at $130.
He had previously projected that the U.S. market slump will finish in the latter half of 2023.
Zeberg does, however, repeat the likelihood of a market collapse akin to the Great Depression in his long-term view. Stocks, indices, and cryptocurrencies are thus destined to fail in the greatest crisis since 1929 after hitting a “blow-off top,” according to him.
Prominent Bitcoin (BTC) bulls remain optimistic despite market apathy
Although the $175,000 Bitcoin (BTC) price forecast is overly optimistic given the continuous indifference on the cryptocurrency markets, it is still below the “average” price projection set by macro bulls.
https://x.com/WhaleChart/status/1703631862231384249?s=20
Zeberg’s forecast is fairly in line with the goals established by Pantera Capital, one of the first VC firms focusing on cryptocurrencies, and Tom Lee of Fundstrat. But when contrasted to the fantastic “goals” established by Cathie Wood from Ark, Mike Novogratz from Galaxy Digital, and Robert Kiyosaki, the author of Rich Dad Poor Dad, it seems overly cautious.
As of press time, the price of one bitcoin (BTC) is $26,738. In the previous day, the biggest cryptocurrency had a loss of 1.48% in capitalization.
