Economist Henrik Zeberg stated that altcoins suddenly started to rise in the crypto market and macro conditions worsened. In his statement on the social media platform X, he said that altcoins are Bitcoin $96,632.0He stated that he started to leave behind.
BTC Dominance Index
Zeberg shows the proportion of Bitcoin in the total market cap of BTC.D. At the time of writing, BTC.D is at 57.65%. BTC.D measures Bitcoin’s dominance over all crypto assets.
The analyst said that he has a big bullish expectation for altcoins using the Elliott Wave theory. According to this theory, an asset can experience a five-wave uptrend, and the third wave will be the longest and strongest move.
“We had the debut of the BTC Dominance Index in the first wave. Barely noticeable! In wave three, which is starting now, we will see a really big push in altcoins. And this will end three more waves from here with wave three, wave four, wave five. When? We’ll have to see! The most important thing is to be on the right side.” – Henrik Zeberg
Blow-off Top Prediction in Markets
Zeberg predicts that there will be a blow-off in the markets soon. In technical analysis, a blow-off top is defined as a chart pattern in which a sudden rise in prices is followed by a sharp decline.
“We haven’t reached the top yet in S&P 500, Nasdaq, BTC, altcoins. Mega rise will develop = Blow-off top. But this is funny!” – Henrik Zeberg
Additionally, Zeberg suggests that there will be no “soft landing” in the economy. According to information from the Financial Times, US credit card defaults have reached the highest level since 2010.
Latest Situation and Expectations
Zeberg’s analysis offers important clues to investors about the current state of the crypto markets and their possible future movements. In addition to the potential rise in altcoins, he also emphasizes that one should be careful about sudden fluctuations that may occur in the markets.
It may be useful for people considering investing in crypto markets to closely follow economic indicators and market trends. Zeberg’s predictions are among the important factors that investors should consider when determining their strategies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
