A macroeconomist believes that the AI-led Nasdaq (NDQ) and Bitcoin rallies are a bubble that’s about to burst, despite calls for an early-cycle bull market.
Henrik Zeberg says on X that the Nasdaq is in the midst of a blow-off top, echoing steep market surges witnessed in the late 1990s and early 2000s during the Dot-com bubble.
According to the economist, Nasdaq still has room to run to the upside before melting down.
“Nasdaq ‘Early Cycle’
Five years of bull market ahead, right?
Not ‘there’ yet though.
And for those who cannot see the BlowOffTop – I have called since 2022…. get your eyes checked!”
The Nasdaq is trading at 24,503, up 50% since its April 2025 low of 16,542.
As for Bitcoin, Zeberg says BTC’s three-month chart resembles the chart of the 1600 Tulip Mania. The economist predicts that Bitcoin will surge close to $140,000 before a major collapse that takes BTC all the way down to $10,000.
“BITCOIN & TULIPS
You may not like it. You may not see it. It may even provoke you.
We have the largest Bubble EVER. And Crypto is the very definition of it.
That does not mean, that the Technology (Blockchain etc.) will not change the World. It 100% will.
But Crypto is a Bubble – and it will burst! And yes – same for Bitcoin!”
Bitcoin is currently priced at $112,245, up over 50% from its April 2025 low of $74,500.
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