Amid accelerating crypto meltdown, trader and analyst Henrik Zeberg stresses his uber-bearish prediction
- Similarities are scary, biggest crash in 95 years is coming: Henrik Zeberg
- All eyes on Q3-Q4, 2023
Henrik Zeberg shared his estimations of the correlation between the U.S. unemployment rates, NAHB housing index, stock markets index and so on — and claimed that his super-pessimistic forecast about the U.S. economics is still valid.
Similarities are scary, biggest crash in 95 years is coming: Henrik Zeberg
According to the statement shared by Zeberg, markets are reaching an economic collapse that will last for years. The markets will be due the “largest crash since 1929.”
The similarities are scary!
EQUITY BLOW-OFF-TOP COMING
LARGER MARKET CRASH THAN 2007-09
(and in fact worst since 1929) pic.twitter.com/W0VncAv0kH
— Henrik Zeberg (@HenrikZeberg) March 10, 2023
To prove his theory about the upcoming “peak” before the collapse, he demonstrated the dynamics of the U.S. unemployment rates (reversed) and the National Association of Home Builders (NAHB) Housing Market Index (HMI), an indicator that displays the relative rate of single-family home sales.
Combined with stock price indicators, these metrics hint at a close peak of the economic cycle. As all of them are extremely overheated, next recession might be much more severe than that of 2007-2009.
In December 2022, he also displayed the Elliot waves prediction for a macro recession: Wave 4 might reach its highest level in early 2024. After that, markets will be doomed to fail, Zeberg warns.
All eyes on Q3-Q4, 2023
As such, Q4, 2023 might be the last “bullish” period of this market cycle. Zeberg disagreed with the statement of Bank of America CEO about his optimism for midterm.
100% US will enter a Recession at end of 2023 https://t.co/bJlofuSPaY
— Henrik Zeberg (@HenrikZeberg) March 7, 2023
Zeberg is well known for his uber-bearish price predictions on cryptocurrency and Bitcoin (BTC). He was the author of one of the most pessimistic forecasts in 2020.
Namely, he predicted that Bitcoin (BTC) would imminently drop to $1,760. It is almost 50% lower than the actual bottom of the previous cycle reached by the largest cryptocurrency on March 13, 2020.