Economist Henrik Zeberg is predicting a massive surge in the crypto market. He believes the total crypto market cap (excluding stablecoins) could explode to a whopping $12.95 trillion. That’s more than a 250% increase from current levels!
Zeberg’s Bullish Outlook
Zeberg, who boasts a large following on X (formerly Twitter), bases his prediction on several technical indicators. He points to the rising Relative Strength Index (RSI), Relative Vigor Index (RVGI), and Moving Average Convergence Divergence (MACD) as signs of a strong uptrend. He sees this as a “wave five rally,” similar to the euphoric market phases seen in 2017 and 2021.
Bitcoin’s Role in the Rally
Zeberg believes Bitcoin is currently in a “wave three” surge, according to Elliott Wave theory. He anticipates further significant gains for Bitcoin in the coming weeks, followed by a pullback in late summer, and then a final push into autumn. At the time of his prediction, Bitcoin was trading around $119,476.
Altcoins to Follow Suit
Zeberg also expects altcoins to take off, with Ethereum leading the charge. He anticipates a strong altcoin rally before a potential summer slowdown. Ethereum was trading at approximately $2,984 when he made his prediction.
A Word of Caution
While Zeberg’s prediction is certainly eye-catching, it’s crucial to remember that this is speculation. Crypto markets are notoriously volatile, and past performance is not indicative of future results. Any investment decisions should be made after careful consideration and research.