[Economist Henrik Zeberg says Bitcoin will surge 98% to reach its peak – here’s the timeline]
Henrik Zeberg, chief general economic strategist at Swissblock, predicts that Bitcoin (BTC) will experience significant volatility in the final quarter of the year. He said market conditions have reached a critical point in his 2022 predictions, with the S&P 500 target raised to between 6,100 and 6,300, while the Bitcoin price target is $115,000 to $123,000, which represents 98% growth. Zeberg predicts the high will come late in the year, but then a recession will follow.
On the other hand, crypto analyst Benjamin Cowen warned that Bitcoin may need another quarter or two of consolidation before its gains accelerate. He believes that if there are problems in the labor market, Bitcoin could fall to the 100-week simple moving average, extending the consolidation period to nine months.