Henrik Zeberg adjusts his prediction timeline, expecting a major market top by October, which could trigger significant market movements.
Points
- Henrik Zeberg predicts a major market top by October 2024.
- Zeberg’s predictions are based on the Elliott Wave principle.
- He expects Bitcoin （BTC） to peak at $120,000.
- Some traders believe the BTC market has already peaked.
- Market dynamics may lead to significant shifts post-October.
Prominent trader and analyst Henrik Zeberg has revised his prediction timeline, now expecting a major market top to occur by October 2024. This adjustment follows his previous forecasts, which anticipated the peak as early as this August. Zeberg’s latest prediction is based on the Elliott Wave principle, a model used to describe market performance phases since the 1930s.
Predicted Market Top
Zeberg foresees a market blow-off top that could push Bitcoin （BTC） to a peak of $120,000. He initially recommended keeping an eye on the end of 2023 and later adjusted his timeframe to August 2024. With the latest revision, Zeberg believes the bull run has an additional two months to play out.
Elliott Wave Principle
According to Zeberg, the top for many assets will coincide with the completion of the fifth phase of the Elliott Wave cycle. This phase typically represents the final leg of a significant price movement before a major reversal. Once this top is confirmed, Zeberg expects a substantial collapse that could see Bitcoin retrace by 60% to 80%.
Diverging Views
While Zeberg anticipates a dramatic peak and subsequent collapse, some traders argue that the BTC market has already peaked. Crypto Twitter influencer @PhilakoneCrypto recently predicted that Bitcoin will bottom at $28,000 by July 2026, expressing a more conservative outlook compared to Zeberg’s bullish expectations.
“Bull market is most likely over. The top has been reached for this cycle. The market looks horrible. My $54K prediction has changed to $28K by July of 2026. Next all time high will come in 4 years,” Philakone tweeted on August 3, 2024.
Conclusion
Henrik Zeberg’s revised timeline for a market top by October 2024 introduces a critical period for traders and investors. While his bullish prediction for Bitcoin contrasts with more conservative outlooks, the potential for significant market movements warrants close attention. Investors should prepare for the possibility of a dramatic peak followed by a substantial correction.
解説
- Henrik Zeberg’s revised prediction timeline highlights the fluid nature of market forecasts and the influence of technical analysis.
- The Elliott Wave principle provides a framework for understanding market cycles and potential turning points.
- Diverging views among traders reflect the uncertainty and complexity of predicting market movements.
- Investors should remain vigilant and consider multiple perspectives when planning their investment strategies.