A widely followed economist believes that big rallies are in store for Bitcoin (BTC), Ethereum (ETH) and the rest of the crypto market.
Analyst Henrik Zeberg tells his 190,600 followers on the social media platform X that he believes that we are in the midst of the “largest financial bubble ever,” paving the way for risk assets like Bitcoin and crypto to soar to much higher prices in the coming weeks.
[adinserter block="1"]
According to the economist, Bitcoin is set to surge 60% over the next two months, while altcoins could deliver gains of up to 900% within weeks.
However, he warns that everything will come crashing down once the bubble bursts.
“We have the largest Financial Bubble ever!
And it will CRASH!
But – we have around 10 weeks of Crypto Bubble Fun. That means extreme rallies in first ETH – then Large Alts – then Memes etc.
Do not BUY AND HOLD for longer. Do not fall for the Bubble narrative!
Buy – when the Coin begins to move. And know WHERE to get out.
You can easily see 5x, 10x or more in a matter of a few weeks!”
Looking closer at the altcoin market, Zeberg says that alts are in the midst of a wave three rally, which is often the longest and steepest part of an uptrend based on Elliott Wave principles. The economist shares a Bitcoin dominance (BTC.D) chart to illustrate how Ethereum and altcoins would outperform BTC over the next few weeks.
“And we know Altseason is coming – just like Summer follows Spring…
We are in wave three of the Altseason – which goes into its extreme phase where altcoins and memes take off in wave five.”
BTC.D tracks how much of the crypto market cap belongs to Bitcoin. A bearish BTC.D chart indicates that altcoins are gaining value faster than Bitcoin.
Looking at Zeberg’s chart, he seems to predict that BTC.D will crash to 23.67%.
At time of writing, BTC.D is hovering at 60.35%.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
