A well-known European economist is forecasting that Bitcoin’s (BTC) price will double by the end of 2024.
Henrik Zeberg, who is lead macro strategist at Swissblock and has more than 150,000 followers on X, says that Bitcoin’s price will be as high as $123,000 U.S. by year’s end.
With Bitcoin trading just under $62,000 U.S., a rally to $123,000 U.S. would represent a 98% increase, or basically double the current price.
Zeberg says that his bullish stance is based on the fact that market conditions have reached a critical point and are now set for a “blow-off top” rally in the fourth and final quarter of the year.
The economist adds that Bitcoin’s price will pullback after the big rally as he anticipates a global recession in 2025.
Forecasts concerning the price of Bitcoin are all over the map and range from about $40,000 U.S. to $1 million U.S.
So far in 2024, Bitcoin’s price has increased 40%, which is double the gains seen in stocks. Bitcoin reached an all-time high of just under $74,000 U.S. in March of this year.
