Economist Henrik Zeberg predicts that the altcoin market is gearing up for a dramatic surge to new highs before the global economy faces a downturn.
Speaking to his 143,000 followers on the social media platform X, Zeberg highlights the TOTAL-ETH-BTC chart, which tracks the overall market cap of crypto assets excluding Bitcoin (BTC) and Ethereum (ETH).
According to Zeberg, TOTAL-ETH-BTC is poised to skyrocket to “euphoric” levels near $1.83 trillion.
“The BLOW-OFF TOP is far from over! Both US Equities and Crypto will experience significant growth in the concluding – and most speculative phase – of this Business Cycle. Altseason will witness a surge in Altcoins. Euphoria is on the horizon!”
At the time of writing, TOTAL-ETH-BTC is valued at $662.75 billion.
Zeberg also shares another chart indicating that central banks such as the Federal Reserve in the US and the European Central Bank (ECB) typically reduce rates just before a recession.
“Is Economic Expansion imminent – or are we approaching the Late Cycle and consequently a Recession? Let me simplify for those struggling to determine our position in the Business Cycle. Last Thursday, the ECB decided to lower its Fund Rates. ECB and FED often attempt to decrease rates late in the cycle to prevent the economy from slipping into a recession. Take a look at the chart. Are we in the ‘Late Cycle’ – or on the verge of a ‘New Economic Expansion’? THINK!”
This month, both the Bank of Canada (BOC) and the ECB have cut interest rates. The Federal Reserve is expected to announce its next statement on the Federal Funds Rate at the June 12th Federal Open Market Committee (FOMC) meeting, with predictions suggesting that rates will remain unchanged.
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