Markets
Economist Henrik Zeberg predicts an extreme rally for cryptocurrencies and stocks, but there’s one big problem
Closely followed economist Henrik Zeberg reveals his outlook for stocks and cryptocurrencies for the coming months.
The macrostrategist tells his 139,600 followers on social media platform X who believe stocks and cryptocurrencies are gearing up for big rallies that could last until the end of the year.
Zeberg points to two narratives that he believes the bulls will latch onto to justify the rise.
“1. Blow off top isn’t over yet – yet! Extreme rally ahead for some indices and cryptocurrencies.
2. Sentiment will become extremely BULLISH.
3. They will call me “Perma Bear” because I call the top of the US market. The market top is very close outside the United States.
4. Bulls will point to AI (artificial intelligence) and Fed liquidity to explain why markets can only go up.”
But while Zeberg believes further rallies are ahead for risky assets, he predicts both stocks and cryptocurrencies will implode once the top is reached.
“The top in the US markets will be in the third/fourth quarter of 2024.
The recession will begin in the fourth quarter of 2024.
The rapid decline of the markets will begin.”
Even the economist He says Market participants will be exuberant as the S&P 500 Index climbs to ever higher levels.
“People will become overly BULLISH – just as we approach the top. This bullish sentiment will increase as the S&P 500 heads towards 6,150 [points]. And talk of artificial intelligence and liquidity – as reasons why markets can only go up – will dominate…”
At the time of writing, the S&P 500 is trading at 5,221 points.
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