Henrik Zeberg, an economist and macro strategist, has issued a cautionary note regarding Bitcoin (BTC), suggesting that it may soon hit a peak before experiencing a significant downturn that could catch many off guard.
During a recent discussion with Anthony Pompliano on The Pomp Podcast, Zeberg indicated that Bitcoin might reach its zenith as early as October, followed by a sharp decline in value due to deteriorating economic conditions.
“I believe we could witness the peak of Bitcoin within the next 50 days, potentially at levels much higher than our current position. However, I also observe that the business cycle is currently in decline…”
“From a technical standpoint regarding Bitcoin, what we are witnessing is not merely a cyclical peak; it represents an overarching top. This suggests that prices could plummet to significantly lower levels than most anticipate.”
Zeberg asserts that ongoing adverse economic factors such as production and sales will likely lead investors to abandon riskier assets like cryptocurrencies.
“The core issue lies within the real economy. It is undergoing contraction. I cannot stress this enough; when this occurs, risk assets—including Bitcoin—are bound to crash. While I foresee Bitcoin performing well over the coming weeks until it peaks alongside this cycle, I predict it will become an unfavorable asset for several years thereafter. Moving forward, it’s plausible that we may see intervention from the Fed again.”
The current trading price of Bitcoin stands at $115,841 at this moment—a slight increase for the day.
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