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Trading Legend Henrik Zeberg Sees Bitcoin (BTC) as Bullish Until This Happens

Wed, 03/15/2023 - 15:15
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Gamza Khanzadaev
Bullish environment for Bitcoin (BTC) and crypto for now, but blow-off top has begun, insists Henrik Zeberg
Trading Legend Henrik Zeberg Sees Bitcoin (BTC) as Bullish Until This Happens
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Macro economist and trader Henrik Zeberg has shared a detailed opinion on the current situation around Bitcoin (BTC) and the crypto market in general. Although Zeberg is known for his pessimism on cryptocurrencies, his views on current market conditions remain bullish, for now.

Trading Legend Henrik Zeberg Foresees Largest Market Crash Since 1929

According to the analyst, as long as the economy is not in a recession, the prices of Bitcoin and other cryptocurrencies will continue to rise. This is due to an influx of liquidity back into the system, says Zeberg. The bullish nature of the current crypto market is also evidenced by Swissblock indicators, on which the analyst relies.

Worst is yet to come

As for the medium-term outlook, Henrik Zeberg remains a pessimist. Previously, the economist had claimed that the worst financial crisis since 1929 was coming and that it could already occur this year. Drawing attention to all the same Swissblock indicators, Zeberg indicates that the peak has been reached and the top is beginning to blow off, which, similar to 2008, is the beginning of the collapse.

Bitcoin (BTC) Targets Over $100,000 as This Important Pattern Reemerges, Analyst Says

In the meantime, Bitcoin completely offset yesterday's pump on the consumer inflation report and returned to values of $24.750 per coin, which is now seen as a solid support level. Overall market capitalization is also holding above the key mark of $1 trillion.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.