Main navigation

Trader Henrik Zeberg Shares New Target Price for Bitcoin (BTC) Rally

Thu, 21/09/2023 - 11:50
Trader Henrik Zeberg Shares New Target Price for Bitcoin (BTC) Rally
Cover image via
Read U.TODAY on
Google News

Despite Bitcoin's (BTC) price performance remaining pale, veteran trading expert Henrik Zeberg foresees its imminent 550% rally in the near future. Also, he is highly optimistic about the U.S. stock market, but in the midterm perspective, he expects the largest markets to crash.

$175,000 for BTC: New price target by Henrik Zeberg

Both Bitcoin (BTC) and U.S.-traded stocks are going through a "buy-the-dip opportunity" phase. Once it is over, their indicators will rally to new highs. In this hypothetical run, Bitcoin (BTC), the largest cryptocurrency, might jump to the $175,000 level, analyst Zeberg opines. It is 153% higher than the current November 2021 all-time high and 550% higher than today's price.

In this marvelous rally, the S&P 500 index will spike to 6,100, while the Nasdaq index might reach a high at 27,100. For both stock indexes, it would mean previously unseen parabolic runs.

In particular, Zeberg is optimistic about Riot Platforms Inc (RIOT:NASDAQ), one of the largest and most technically advanced public Bitcoin (BTC) mining companies. While at press time, RIOT is attempting to protect the $10 level, the chartist sees it at $130.

Previously, he predicted the end of the market recession in the U.S. in late Q4, 2023.

However, in his long-term analysis, Zeberg reiterates the possibility of the markets collapsing similar to the Great Depression. Thus, after reaching a "blow-off top," stocks, indexes and cryptocurrencies are doomed to fail in the worst crash since 1929, he says.

Prominent Bitcoin (BTC) bulls remain optimistic despite market apathy

Despite the fact that the $175,000 Bitcoin (BTC) price prediction seems to be too optimistic amid ongoing apathy on the crypto markets, it is below the "average" price target set by Bitcoin (BTC) macro bulls.

The prediction by Zeberg is close to the targets set by Fundstrat's Tom Lee and Pantera Capital, one of the first crypto-focused VC funds. However, it looks too conservative compared to sensational "goals" set by Ark's Cathie Wood, Mike Novogratz of Galaxy Digital and Rich Dad Poor Dad author Robert Kiyosaki.

By press time, Bitcoin (BTC) is trading at $26,738. The largest cryptocurrency lost 1.48% of its capitalization in the last 24 hours.


Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles