.HenrikZeberg ready to question his bearish stance on crypto: Here's why
As such, Mr. Zeberg foresees that they will soon enter the fifth wave of the Elliott model. It means that an impressive mid-term upsurge is in the cards.
Cryptocurrencies may rise hand in hand with equities and other risky assets, Mr. Zeberg adds. The"fifth wave" is the last period of growth, as per the popular Elliott cycles model. As covered by U.Today previously, Henrik Zeberg in March 2020 predicted an evangelic Bitcoin plunge to $1,700. HeShould his prediction come true, Bitcoin might have its correlation with stocks and indexes increased yet again. Analyst Charles Edwards repeatedly stressed that this correlation spikes in periods of extreme fear and extreme greed.
In early 2022, Bitcoin caught up with the 10-year U.S. Treasury yield for the second time in its history, as U.Today previously reported.
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