In 2024, macro strategist Henrik Zeberg expects a “fantastic” bull run in the crypto market, during which the price of digital gold will reach $150,000.
At the same time, the expert believes that traditional markets will face “the worst collapse since 1929,” when the Great Depression began in the United States.
Driven by the arrival of new players, the dynamics of digital assets this year will be “parabolic,” according to Zeberg.
Zeberg added that with institutional and traditional investors coming in following the potential approval of spot Bitcoin ETFs in the US, the first four months of 2024 could be “incredibly exciting” for the crypto market.
The launch of an investment product will confirm the forecast for Bitcoin at $150,000, but this is not the most decisive factor, the analyst clarified.
MN Trading founder Michael van de Poppe wrote in X that the “focus is now completely shifted” towards the first cryptocurrency while awaiting approval of exchange-traded funds.
#Altcoins suffering as #Bitcoin ETF week is approaching.
Not strange, as the focus is entirely skewed towards Bitcoin. After the ETF, momentum is likely coming back in altcoins.
Range remains defined on Bitcoin. Buying 10%+ dips, selling at $48-51K. pic.twitter.com/7F2yPo3ySN
— Michaël van de Poppe (@CryptoMichNL) January 8, 2024
In his opinion, after the launch of the ETF, capital will return to altcoins, and Bitcoin will trade at $48,000-51,000.
A trader under the nickname Trade4ddict noted that the dominance index of the first cryptocurrency has risen above 54% and is approaching the upper resistance level at 55%.
Yea $BTC dominance continues to rise above 54% and looks like it's on the way to 55% resistance
We have to look for the few outperforming coins like $STX for new longs pic.twitter.com/tP7Od5gJmZ
— Trade4ddict (@Trade4ddict) January 8, 2024
In early January, LookIntoBitcoin founder Philip Swift recorded that from the bottom of the bear market, Bitcoin returned to the range of the Stock-to-Flow model.
From the bear market lows, #bitcoin price has now climbed back to the Stock-to-Flow line. pic.twitter.com/uKrDiSJcWB
— Philip Swift (@PositiveCrypto) January 3, 2024
Source: Cryptocurrency
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