Henrik Zeberg, who is seen as a trading legend and has drawn very pessimistic pictures for Bitcoin in the past, claims that the biggest collapse of the last century is coming as a result of his analysis of some indicators.
Henrik Zeberg: The biggest collapse of the last hundred years is at hand!
Both the crypto market and the US stock market were shaken after the collapse of Silicon Valley Bank, one of the largest banks in the USA. Regulators closed one of Silicon Valley’s most important banks on Friday, marking the largest bank failure since the Great Recession and the second largest in US history. These developments were followed by allegations that a greater collapse was at hand.
Seen as a trading legend, Henrik Zeberg is quoted by US unemployment rates, NAHB housing index, stock market index, etc. shared their estimates of the correlation between Zeberg said his overly pessimistic forecast about the US economy is still valid. According to the shares of the legendary name, the markets are moving at full speed towards an economic collapse that will last for years. According to Zeberg, markets will now see ‘the biggest crash since 1929’.
To substantiate his theory of the impending ‘peak’ before the crash, Henrik Zeberg points to a metric that shows the (reversed) dynamics of US unemployment rates and the Contractors Housing Market Index (NAHB) and the relative ratio of single-family home sales (HMI).
Combined with stock price indicators, these metrics mark an imminent culmination of the economic cycle. According to Zeberg, the next recession could be much more severe than in 2007-2009, as all of these indicators are overheating. Trading legend in December 2022 also uses the wave prediction of Elliot Wave theory for a macro recession to prove his claims. Accordingly, Wave 4 may reach its highest level in early 2024. Zeberg warns that from now on, the markets will be doomed to failure.
Bitcoin crash predictor: The latest rise!
According to Zeberg as a result of his analysis, the 4th quarter of 2023 may be the last ‘uptrend’ period of this market cycle. The legendary name therefore disagrees with the Bank of America CEO’s statement on interim optimism.
Meanwhile, it should be noted that Henrik Zeberg is known for his crash predictions on the cryptocurrency market and Bitcoin (BTC). cryptocoin.comAs you follow, Zeberg was the author of one of the most pessimistic predictions for the cryptocurrency market in 2020. He suggested that during this period, Bitcoin (BTC) would drop to $1,760. This level was almost 50% lower than the true bottom of the previous cycle, which the leading cryptocurrency reached on March 13, 2020.
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