The digital asset markets are gearing up for the biggest rally in history, according to closely followed macro analyst Henrik Zeberg.
Zeberg tells his 128,000 followers on the social media platform X that sentiment within the crypto asset class will soon become extremely bullish and positive.
“The greatest crypto rally ever is right ahead of us.
Everybody will become screamingly bullish. Euphoria (and Lambo boys) will be back.
Watch!”
The investor is also bullish on the stock market and expects equities to “soar” in the near future.
He shares a chart suggesting a correlation between the rise in junk bonds, or risky, high-yielding debt, and the S&P 500 index. He also highlights a rising relative strength index (RSI) on the SPX, suggesting incoming momentum.
“If you think equities are about to crash – you are still wrong!
They will SOAR!”
Zeberg believes that the global economy is nearing the end of a long-term business cycle, rather than gearing up to begin a new one, as many investors believe.
In a new interview with WTFinance, Zeberg explains his outlook.
“The developments we’ve seen for the last couple of months here… We should see that continue into 2024.
I think that the stock market will be – now we have a small pullback for the last couple of days but that’s really nothing in my book – but the stock market and the crypto markets and so on should keep moving up higher. Bitcoin should reach $100,000 to $150,000. We should also see the S&P 500 reach 6,100 which has been my target since I think since a year and a half ago.
All these things are still playing out. So to me, there are no changes, this is the blow-off top.
This is the business cycle that is coming to an end. It was not at an end a year ago, which was very, very clear to me, and now we are getting closer to that, and that’s why I expect it’ll be something of a whipsaw year because when we get to the middle of this year, I think we will see a change from this very bullish environment to the outright opposite, and I think we’re going to see a crash into the last part of the year.”
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The post Greatest Crypto Rally Ever Almost Upon Us, Says Economist Henrik Zeberg – Here’s His Outlook appeared first on The Daily Hodl.
