Bitcoin Expected to Reach $175,000 and Ethereum $17,000 Before Crash
Henrik Zeberg, Head Economist at SwissBlock, outlined a two-stage roadmap for Bitcoin and cryptocurrency in an interview on September 4. He anticipates a powerful “melt-up” followed by a significant market correction akin to the dot-com crash.
Key Insights
- Current market conditions suggest further price increases before a downturn.
- Zeberg predicts Bitcoin could rise to at least $140,000, potentially reaching $165,000-$175,000.
- Ethereum is expected to approach $17,000 during this final phase.
- A strong US dollar will catalyze the impending market bust as liquidity tightens.
- Zeberg expects a deflationary period lasting six to nine months post-bust.
- Gold may initially sell off during liquidity crunches but is projected to reach $35,000 per ounce by the 2030s.
- He views MicroStrategy as a potentially vulnerable entity in the crypto market due to its heavy Bitcoin investments.
- Zeberg believes that most crypto projects will fail, with only a few surviving long-term.
- Market conditions are becoming increasingly toxic due to high rates and economic pressures.
As of now, Bitcoin is trading at $111,528.
