Cryptocurrencies Before the Bull Run: Henrik Zebergs' Perspective on Market Cleanup and Opportunities

The global cryptocurrency market is currently in a critical phase. Massive price declines and liquidations in the five-figure millions have unsettled investors. However, experts like Henrik Zeberg see this market correction not as a disaster but as a necessary cleansing process before the next major upward movement.

Market Volatility as a Prelude to the Next Bull Cycle

The current downturn has left deep marks. Price drops of this magnitude are not unusual in the crypto sector, but their emotional impact is significant. Henrik Zeberg, Chief Macro Economist at Swissblock, brings clarity to this uncertain market situation.

Zeberg’s main thesis: This phase of price losses does not mark the end of a bull cycle but its turning point. Psychologically, it’s a reset — the moment when weak market participants are shaken out and the stage is set for institutional and experienced investors.

Henrik Zeberg’s Elliott Wave Scenario: The “Euphoria Blow-Off”

Zeberg’s analysis is based on Elliott Wave theory, one of the oldest and most reliable models for market cycle analysis. According to his understanding, the crypto market is currently in a capitulation phase of Wave 2, which follows a larger Wave B correction.

What’s next? Wave 3 — the phase Zeberg describes as an “euphoric blow-off.” This phase is expected to be driven by fresh liquidity inflows, renewed investor confidence, and a powerful altcoin season. In such an environment, capital quickly shifts from established assets like Bitcoin and Ethereum into smaller, more speculative tokens — a classic sign of a strong bull cycle.

Price Targets: Bitcoin over $160,000, Ethereum Significantly Higher

Zeberg’s forecasts are ambitious. He predicts Bitcoin will rise above the psychologically significant $160,000 mark. For Ethereum, he envisions a multi-stage upward scenario: first to $6,000, then to $7,500, followed by $10,000 and possibly even $12,000 as the rally gains momentum.

These targets may sound unrealistic today. However, they are based on a systematic analysis of market cycles and the historical price development of these assets during previous bull phases.

Technical Signals from the Weekly Chart

Zeberg is supported by other prominent market analysts. Analyst Michaël van de Poppe has recently examined the technical picture intensively. His conclusion: The Bitcoin weekly chart appears healthy and balanced. Phases of consolidation and price corrections are not only normal but even beneficial for sustainable growth.

Van de Poppe emphasizes that if the upcoming trading week produces green candles, it would be a strong indication of approaching all-time highs. The current chart pattern does not suggest a market top but rather a forthcoming breakout.

The comparison to late Q4 2019 is revealing. Back then, many altcoin projects continued to develop fundamentally sound, even if not yet reflected in prices. When the market then moved, an explosive altcoin rally followed. A similar scenario could be unfolding now.

The Shadow Scenario: Warning of the “Everything Bubble”

But Zeberg does not remain in uncritical optimism. He also warns that this massive bull run could mark the final phase of a global “Everything Bubble” — a bubble that has engulfed the entire financial system.

After a parabolic rise to extreme heights, Zeberg predicts a sharp, deflationary crash. This would mean a systemic reset. However: at the peak of this euphoria, market sentiment will signal the exact opposite — maximum optimism instead of caution.

This dual perspective makes Zeberg’s analysis complex but realistic: There is significant upside potential in the coming months, but the phase afterward could turn just as dramatically in the other direction.