Bitcoin, according to macro strategist Henrik Zeberg, is on the verge of a significant upward movement. Zeberg, in an interview on the Bloor Street Capital YouTube channel, predicts that Bitcoin could surge by over 64% by the third quarter of this year. He maintains his previous prediction of $110,000 to $115,000 for Bitcoin and believes that a major move is imminent. Although there was a substantial move on May 20th, Zeberg sees it as merely the beginning. He expects a massive move in mid-June, followed by an uptrend with consolidations and pullbacks from August to October. However, Zeberg stresses that certain price levels need to be met, specifically Bitcoin surpassing $105,000 and the S&P reaching 6,000. If these levels are not reached, he will become more concerned. At present, Bitcoin is trading at $70,090, experiencing a nearly 2% increase in the past 24 hours.

In addition to his Bitcoin forecast, Zeberg also predicts a US economic recession before the end of 2024. He suggests that the recession will likely begin in the fourth quarter of this year, possibly in October, November, or December. Furthermore, Zeberg believes that the stock market will peak two months before the recession hits. Therefore, he anticipates the stock market’s top-out to occur in the third quarter, potentially in October or earlier. Although August and September are the current estimations, Zeberg states that his timeline is subject to change based on his observations. He notes signs of weakness in various assets, particularly in Europe and Asia, such as the Nikkei and Nifty. Zeberg expects the stock market in Asia and Europe to reach its peak before the US market does. Consequently, he foresees a capital rotation from Europe and Asia into the US market. Despite his optimism about the US market, Zeberg clarifies that he is not bullish on all markets, emphasizing his bullishness on small caps and the US market specifically, as he anticipates a shift from large caps to small caps in the final phase of the business cycle.

It should be noted that the opinions expressed by Zeberg are not investment advice. Investors are advised to conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where the interview was published, does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it serve as an investment advisor.