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Renowned economist Henrik Zeberg remains bullish on Bitcoin (BTC) despite its recent 10% decline.

He told his 170,600 followers on social media that Bitcoin has the potential to break the all-time high of $108,200.

However, Zeberg warned that after reaching a peak, the price could fall to around $16,000.

He also predicted that altcoins are on the verge of a strong rally, but that this bullish phase, accompanied by extreme optimism, will only last a few weeks and will be followed by a deep bear market.