Trader Henrik Zeberg: Wave 5 of the S&P 500 crypto stock price growth is ahead
The creator of The Zeberg Report and well-known cryptocurrency trader Henrik Zeberg says that the 5th wave of growth of the S&P 500 index is ahead. He wrote about this on his Twitter account.
It is worth noting that Zeberg's predictions often come true. In the spring of 2020, he predicted a fall in the price of bitcoin to $1.7 thousand. Now he believes that the most important stocks of the stock market, including the S&P 500, are forming a bullish reversal on the charts.
Therefore, the analyst predicts that the securities will soon enter the 5th wave of the Elliott pattern. This will stimulate their price growth in the medium term.
If I observed this...VIX still declining and SPX (and Nasdaq, IWM etc.) putting in Bullish Reversal Candles on Weekly charts, I probably would question my Bearish stance! #Equities #Crypto and other risk assets will soar in last wave 5! Stay tuned to https://t.co/1Cy03QuMgb pic.twitter.com/lzwkPNrN1m— Henrik Zeberg (@HenrikZeberg) February 26, 2022
Research by other analysts confirms this. As the relationship between bitcoin and digital assets increases, cryptocurrencies begin to actively influence the market for traditional assets.
At the beginning of this year, BTC yields became the same as those of 10-year Treasury bonds issued by the United States. This happened for the second time in history.
As the maturity of the crypto asset grows, its association with the Nasdaq and S&P 500 intensifies. However, according to the analytical agency Santiment, the rises and falls in the value of bitcoin do not yet affect traditional securities in the long term.
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