The post Economist predicts upcoming ‘strong bullish sentiment and euphoria’ before worst crash appeared on BitcoinEthereumNews.com.

As the global market continues to experience notable downturns, an economist believes a silver lining exists.  Particularly, economist Henrik Zeberg, in an X post on August 6, predicted that after the current bearish sentiments, investors should expect a surge in bullish sentiment and market euphoria in the coming months. According to Zeberg’s analysis, the U.S. stock market and the cryptocurrency market, particularly Bitcoin (BTC), are expected to reach new all-time highs soon. Zeberg outlined his expectation that the U.S. stock market and cryptocurrencies will experience significant gains as the current bearish sentiment shifts to a strong bullish outlook. “As we in the coming few months reach ATHs in the U.S. stock market and in BTC+ Crypto, the current bearish sentiment will develop into strong bullish sentiment and euphoria – and the markets will soar!!” Zeberg stated. Upcoming recession Despite this optimistic short-term outlook, Zeberg warned of an impending recession and the largest bear market since the Great Depression. He anticipates that the downturn will be severe and historic after the initial market highs. “I will be told that I’m wrong about my forecast of a coming top in U.S. markets. But recession is coming and the largest bear market since 1929 will begin. But first blow off top (in U.S. markets!),” he added. Indeed, in recent months, the economist has increasingly warned that while the market will likely surge, investors need to brace themselves for one of the worst downturns in history. Notably, the markets are now undergoing a correction sparked by fears of a possible recession hitting the United States. Possible recession tension This follows poor job data from the United States economy, showing that unemployment is rising. Consequently, the stock market recorded a significant capital outflow running into trillions of dollars, with indices such as the Nasdaq-100 and…

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Filed under: News - @ August 6, 2024 12:22 pm