Economist Predicts Major Altcoin Surge Before Economic Recession
Economist Henrik Zeberg anticipates a significant surge in the altcoin market, potentially reaching new highs before a global economic downturn.
Zeberg references the TOTAL-ETH-BTC chart, which tracks the market cap of all crypto assets excluding Bitcoin (BTC) and Ethereum (ETH).
Zeberg predicts a dramatic rise in the TOTAL-ETH-BTC chart to approximately $1.83 trillion, indicating a period of intense market enthusiasm.
#BLOWOFFTOP far from done yet! 🚀🚀🚀
US #Equities and #Crypto will soar into the final – and most speculative phase – of this Business Cycle.#Altseason will send Alts flying.#Euphoria will develop! pic.twitter.com/p8Df1HUY2G
— Henrik Zeberg (@HenrikZeberg) June 7, 2024
He asserts that both US equities and cryptocurrencies are poised for substantial gains in the final, speculative phase of the current business cycle, suggesting an upcoming altseason that will significantly boost altcoin prices.
Currently, the TOTAL-ETH-BTC stands at $662.75 billion.
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Zeberg also shares insights on central bank actions, noting that institutions like the Federal Reserve and the European Central Bank (ECB) typically cut interest rates just before a recession.
Economic Expansion ahead – or Late Cycle and hence Recession ahead?
Let me make it easy for people who find it difficult to understand where we are in the Business Cycle.
On Thursday, ECB chose to cut its Fund Rates.
ECB and FED always will try to cut rates late cycle to… pic.twitter.com/glm0zG5amZ
— Henrik Zeberg (@HenrikZeberg) June 8, 2024
He points out that the ECB’s recent rate cut is a typical late-cycle maneuver aimed at preventing an economic downturn. Zeberg encourages his followers to consider whether we are in a late-cycle phase or on the brink of a new economic expansion.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
