Economist Henrik Zeberg is leaning bullish on Bitcoin (BTC) amid the flagship crypto asset’s transient dip of practically 10% earlier this week.
Zeberg tells his 170,600 followers on the social media platform X that the anticipated “Christmas rally remains to be on.”
In keeping with the extensively adopted economist, Bitcoin is primed to rise previous the present file excessive of round $108,200 and attain a brand new all-time excessive.
Zeberg additional says,
“We’re not on the prime but.
BUT – we’re a lot nearer to the highest and the rally is not going to proceed for so long as many analysts appear to consider.”
Bitcoin is buying and selling at $101,784 at time of writing.
In keeping with the economist, Bitcoin may plunge by round 84% from the present degree after reaching the cycle peak.
“Properly – my goal after blow-off prime is roughly $16,000.
Will likely be fascinating.”
Turning to the broader crypto asset market, Zeberg says that altcoins are on the cusp of a large rally amid a declining degree of Bitcoin dominance – the ratio of the market cap of Bitcoin relative to the market cap of all different crypto property.
Zeberg says,
“Crypto is THIS near taking off in a serious approach!
Essentially the most explosive part of the altcoin season is about to set in.
It can create excessive euphoria and “specialists” might be throughout one another with bullish forecasts.
BUT – that is the final blow-off part which can final weeks.
After that – main bear market begins!”
Generated Picture: Midjourney
