Bitcoin To Surge Over $110K In Q3 Despite Impending Recession Fears, Says Economist Henrik Zeberg

NEW YORK (May 28) In a recent interview, macro strategist Henrik Zeberg made a striking forecast that Bitcoin 

 could experience a significant surge in value, alongside his prediction of an impending U.S. recession.

What Happened: During a discussion on the Bloor Street Capital YouTube channel, Zeberg predicted a substantial rally for Bitcoin, expecting it to soar over 64% from its present value by the third quarter of 2024, The Daily Hodl reported on Tuesday.

Zeberg reaffirmed his previous projection of Bitcoin reaching a price range between $110,000 and $115,000, indicating that the cryptocurrency is on the cusp of an uptrend that was initiated on May 20. He envisions a pattern of surges and periods of consolidation leading to this price target.

Zeberg also shared his outlook on the broader economy, foreseeing a U.S. recession by the end of 2024. He anticipates the recession will begin in the last quarter, with the stock market reaching its peak shortly before, likely in Q3.

Why It Matters: Zeberg’s predictions arrive amid a backdrop of varying opinions on Bitcoin’s future. Just days before Zeberg’s interview, another crypto analyst suggested that Bitcoin could reach $1 million within the next 10 to 18 months, emphasizing the nascent stage of Bitcoin’s story.

Conversely, another analysis presented a more cautious view, questioning whether Bitcoin had truly escaped the “danger zone” and predicting a potential dip in its value. This contrasting viewpoint underscores the volatile and unpredictable nature of cryptocurrency markets.

Benzinga