CandleFocus Swissblock’s Head Macroeconomist Sets Timeline for Bitcoin to Target $115K to $123K
2024-11-01
Author: Content Editor
Henrik Zeberg, the Head Macroeconomist at Swissblock, has provided a timeline for Bitcoin to reach a new all-time high price. His analysis focuses on Fibonacci levels and key market indicators. The analysis suggests that if Bitcoin breaks above its all-time high of $73,000, it could trigger a breakout from a consolidation phase and potentially reach a new high of around $115,000 to $123,000. Zeberg's prediction aligns with market veteran Peter Brandt, who also sees a bullish outlook for Bitcoin's cycle top, targeting $135,000. However, Zeberg recently warned of an impending economic downturn, forecasting a severe recession and a prolonged bear market starting in 2025, which he believes could be the most challenging economic period since the early 20th century.
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