'Extreme Rally' Predicted in Crypto by Top Trader for 2024

As the financial world braces for an "extreme rally," top traders, including analyst Henrik Zeberg, forecast a booming phase for the cryptocurrency sector.

With US stocks expected to peak later this year, Zeberg's prediction of a bullish spike in crypto markets aligns with declining inflation expectations and a promising economic outlook, potentially marking a significant turnaround from recent market volatilities.

Anticipating a Peak in US Stocks and Cryptocurrency Rally

Analyst Henrik Zeberg predicts an "extreme rally" in the bitcoin industry. The feeling will become "extremely bullish" as the cycle peaks, as per U.Today.

Zeberg predicts US stocks will peak in the second half of 2024. The expert says the recession will begin in the fourth quarter of the year, resulting in "a fast decline" in the markets.

Tom Lee, chief of research at Fundstart, recently forecasted that inflation would fall dramatically in the year's second half. He anticipates the main cryptocurrency to hit $150,000 by 2024.

Inflation Trends and Their Impact on Cryptocurrency Valuations

According to U.Today, the impending consumer price index (CPI) report, slated to be issued on Wednesday, can potentially be a huge bullish catalyst for the cryptocurrency market if it comes in lower than projected.

Stocks and cryptocurrencies fell sharply in April as US inflation proved to be stickier than expected.

This sparked fear that the United States could enter another " stagflation phase," with JPMorgan CEO Jamie Dimon comparing current economic conditions to the 1970s. However, Federal Reserve Chair Jerome Powell quickly addressed these concerns, injecting optimism into the market.

Federal Reserve’s Optimistic Intervention Fuels Market Confidence

The U.S. stock market rallied sharply after the Fed announced plans to lower borrowing prices this week. However, Bitcoin remains on precarious ground, on the edge of falling below the $60,000 mark.

The flagship cryptocurrency is up over 45% year to date.

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