Alex Dovnya
The crypto market could experience an “extreme rally” in the second half of this year, according to trader Henrik Seberg
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According to analyst Henrik Seberg, the virtual currency market will “Extreme Rally”.
Sentiment will be “very bullish” as we approach the top of this cycle.
Seberg expects U.S. stocks to reach their peak in the second half of 2024.
The analyst expects the recession to begin in the final quarter of this year, prompting a “rapid decline” in the market.
Tom Lee, head of research at Fundstart, recently predicted that inflation will fall dramatically in the second half of this year. He predicts that the major cryptocurrencies will surpass the world. $150,000 2024 level.
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As reported by U.Today, if the Consumer Price Index (CPI) report, scheduled to be released on Wednesday, comes out lower than expected, it could be a major bullish trigger for the crypto market.
In April, stocks and cryptocurrencies experienced a fairly sharp decline as US inflation turned out to be more robust than previously expected. This prompted JPMorgan CEO Jamie Dimon to compare the current economic situation to the 1970s, sparking speculation that the U.S. may be entering a new period of “stagflation.” It spread. However, Federal Reserve Chairman Jerome Powell quickly dismissed these concerns and sparked optimism in the market.
U.S. stock markets experienced strong gains after the Federal Reserve announced plans to lower borrowing costs this week.
However, Bitcoin remains volatile and is currently teetering on the brink of falling below the $60,000 level.
The main cryptocurrency has risen more than 45% year-to-date.
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Alex Dovnya
