Economist Predicts Major Upside for Crypto and Stocks Despite Recent Corrections
06.08.2024 19:00 2 min. read Alexander Stefanov
Economist Henrik Zeberg, who has a significant following, remains optimistic about the future of both cryptocurrency and the US stock market, despite recent downturns.
Zeberg stated that he doesn’t believe the current market corrections signal a prolonged decline or a shift into a bear market. He suggested that while recent drops and talk of a recession are prominent, the situation is not yet indicative of a long-term downtrend.
Earlier this year, Zeberg forecasted that both stocks and crypto would experience sharp rallies, or “blow-off tops,” before facing a downturn. He anticipated that the Federal Reserve would intervene by increasing liquidity to support the economy if a recession seemed imminent.
Following a recent 3% drop in the S&P 500—the most significant sell-off since 2022—Zeberg noted that his predictions are aligning with current market movements. He maintains that the peak in US markets is still ahead and expects to see signs of a recession by mid-2024.
Zeberg predicts that the Federal Reserve will act to stimulate the market, potentially leading to strong recoveries and new record highs. He anticipates significant rallies in both traditional markets and cryptocurrency, with a particular emphasis on a bull market peak for crypto in October.
According to Zeberg, these rallies will be marked by heightened enthusiasm and extreme peaks, especially in small caps and cryptocurrency, though he believes these highs will be short-lived as the final peak approaches.
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