Henrik Zeberg forecasts the worst recession since 1929, expected to start in October, with significant implications for Bitcoin and other assets.
Points
- Henrik Zeberg predicts the worst recession since 1929 will begin in October.
- Bitcoin may peak at $120,000 before a significant recession.
- The prediction is based on the Elliott Wave principle and Fibonacci indicator.
- Traders are divided on whether Bitcoin has already peaked.
Prominent trader and analyst Henrik Zeberg has reiterated his prediction of the worst recession since 1929, now expected to begin in October. This forecast has significant implications for Bitcoin and other small-cap assets, as Zeberg suggests that we are on the cusp of a major economic downturn.
According to Zeberg, Bitcoin might peak at $120,000 based on the Fibonacci indicator before the recession hits. This prediction is grounded in the Elliott Wave principle, a model describing stock market performance phases since the 1930s. Zeberg’s forecast suggests that many assets will reach their peak during the fifth phase before experiencing a dramatic collapse.
Zeberg has adjusted his timeline for this major top a few times, initially recommending a focus on the end of 2023. However, he now anticipates the market top to occur by this October, which will trigger a significant economic downturn.
Meanwhile, some traders believe that Bitcoin has already peaked. Crypto Twitter speaker @PhilakoneCrypto predicts that Bitcoin will bottom at $28,000 in July 2026, indicating that the next top will occur in a future cycle, at least four years away.
Zeberg’s prediction and the divided opinions among traders highlight the uncertainty and volatility inherent in the crypto market. Investors are advised to stay informed and consider various perspectives when making investment decisions.
Explanation
- Elliott Wave Principle: This model describes market performance phases and predicts a peak followed by a significant downturn.
- Fibonacci Indicator: A technical analysis tool used to forecast potential price levels, suggesting Bitcoin might peak at $120,000.
- Market Uncertainty: Traders are divided on whether Bitcoin has already peaked, reflecting the inherent volatility and unpredictability of the market.
- Economic Downturn: Zeberg’s forecast of a major recession emphasizes the need for investors to stay informed and cautious.