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Henrik Zeberg, Swissblock’s chief macro strategist, forecasts considerable fluctuations in Bitcoin‘s price during the last quarter of this year. In a recent social media update, Zeberg suggested that current market dynamics align with a critical juncture he anticipated two years ago. What Are Zeberg’s Updated Predictions? Zeberg confirmed that the predicted low from November 2022 has been achieved. With the S&P 500 index currently at 5770, he has adjusted his targets to fall within 6100-6300. For Bitcoin, a revised pricing expectation now ranges between 115,000 and 123,000 dollars. How Do Other Analysts View This Outlook? Contrarily, some analysts, including Benjamin Cowen, express skepticism regarding Zeberg’s optimistic outlook. Cowen cautions that Bitcoin may experience stagnation for a couple of seasons before potentially regaining upward momentum. Zeberg’s target for Bitcoin suggests a potential rise of 98% from its current trading price of 62,700 dollars. Recent labor market data indicates a balance in recession fears, which could impact Bitcoin’s performance. Investors need to cultivate diverse strategies in response to varying analyst opinions. Bitcoin’s current trading price stands at 62,700 dollars, and if Zeberg’s projections hold, a surge to 123,000 dollars could materialize. He anticipates a significant “blow-off top” in Q4 that may culminate in a subsequent decline. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/will-bitcoin-experience-major-price-movements-soon

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Filed under: News - @ October 7, 2024 1:12 am