During the crypto world is looking on today, Monday, well looking forward to the Bitcoin Halving 2020, published by the Denmark-based macro-economist and chart analyst Henrik Zeberg a gloomy prognosis: in His opinion of the Bitcoin price could fall in the short term, up to 1.760 US Dollar. Reason to panic, nevertheless, because on the other side of the Economist Bitcoin attests to a medium-term upward potential of up to 94.000 dollars.In this article we want to take a look at the thoughts of Henrik Zeberg and his reasoning. His Thesis is to be presented as neutral as possible, so that everyone can make a picture of its significance and probability. A Lot Of Fun!
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Bitcoin exchange rate with a short-term goal of 1.760 dollars?
The expectations for the upcoming Bitcoin Halving were (and are) high. After the Bitcoin rate could, at least, exceed in the short term – the brand of 10,000 USD, started yesterday Morning, a sobering experience. The Bitcoin exchange rate was from 09. on the 10. May by up to 15 percentage points down. BTC fell from nearly $ 10,000 on short-term 8.550 USD.As a consequence, some see the “Halving Bullrun” already as a failure and call for a new Phase of the bear. Suitable for this purpose, the analysis of the macro-economists to view Henrik Zeberg, which sets the short-term objective of the Bitcoin exchange rate on 1,760 US dollars.
Zeberg Elliot uses the Waves for its analysis
At this point it is already said that Zeberg speaks on his Twitter account about a correction in Gold. Accordingly, the precious metal this year (!) 800 USD will fall. Without a rating here, can you hold on to that Zeberg not only for BTC, but also for other Assets, a lot of bids due soon scenario.We now look at the Tweet that talks about the Bitcoin exchange rate of 1.760 USD:
#Bitcoin may have topped in a smaller wave (B) of Y. Top here seems logic, as 100% of the decline of (A) gives us old bottom from 2018 and 1.27% (which is often the length of C wave) gives us ~1760. My updated target is the latter: 1760 USD before the bottom. Why decline? Due to soaring real Council! pic.twitter.com/Gm5tUYWRhE— Henrik Zeberg (@HenrikZeberg) May 10, 2020
From the Tweet, it is apparent that Zeberg works with so-called Elliot Waves. In the case of the Elliot Waves (dt. Elliot waves) is a CA 100 years old concept. The basic idea behind it is that the market moves in waves, and between the Extremes of “optimism” and “pessimism” varies. Zeberg see a negative short-term scenario for the Bitcoin course, since the General market situation was negative. This he justified on the grounds of the “soaring real reates” – so interest rates decline. We can see from his analysis that the short-term goal would be reached in June of this year.
Long-term optimism for the Bitcoin exchange rate
Who now gets by the statements of Zeberg possibly “sweaty hands,” don’t worry. So Zeberg does not see his predicted crash of the Bitcoin exchange rate as of the end of BTC. Rather, he sees – according to the theory of Elliot waves – after the period of pessimism an optimistic Phase of the market, in the Bitcoin is significantly higher you can climb.In absolute terms, the macro-economist of the Bitcoin exchange rate is a medium – to long-term price range of 34,000 up to 94.000 US dollars. The following Tweet shows:
Let’s look at the potential to the upside following a major bottom. The major triangle is a continuation pattern hence any strong decline to ~1760 is not evidence for #Bitcoin’s demise. The upside pot. is min. 34k – likely 54k pot. 94k during the phase of Run-from-Fiat-currencies pic.twitter.com/sQ6bWHkm8U— Henrik Zeberg (@HenrikZeberg) May 10, 2020
Interestingly, he sees the upside potential when the Bitcoin exchange rate not only the optimistic market phase. Zeberg argues that the future is an upward accelerated trend (2021) by the “Run-from-Fiat-currencies”, i.e. the getting Off from the Fiat money.We say: The macro-economist and chart analyst Henrik Zeberg the aim of the Bitcoin exchange rate until June 2020 1.760 US Dollar. Until next year, BTC can rise, in his opinion, however, up to 94.000 dollars. This increase would be accelerated accordingly by the exit from Fiat money.
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