Economist and macro strategist Henrik Zeberg warns that Bitcoin (BTC) could soon reach cycle peak and collapse to levels that will surprise many.
In a new interview with Anthony Pulliano on the Pomp Podcast, Zeberg says Bitcoin could reach the top in October before its value plummet amid the economic downturn.
“In the next 50 days, we will likely be able to see the top of Bitcoin, which could be a much higher level than we are now.
What I’m technically seeing in Bitcoin is that this is the huge top you have here. This is not a circular top. This is the worldly top of Bitcoin. In other words, you can see it crashing to a much lower level than most people can understand. ”
Zeberg believes that economic conditions such as production and sales will continue to deteriorate, urging investors to escape risk-on investments.
“It’s really about real economy. The real economy is rolling around. And when it does, we can’t stress that risk assets – Bitcoin is a risky asset – crashes. Also.”
Bitcoin was trading at $115,841 at the time of writing, and has risen slightly that day.
https://www.youtube.com/watch?v=ecxacsvhivi
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