Economist Henrik Zeberg says that the altcoin market is setting up for a parabolic run to new highs before the global economy witnesses a recession.
Zeberg tells his 143,000 followers on the social media platform X that he’s looking at the TOTAL-ETH-BTC chart, which measures the entire market cap of crypto assets besides Bitcoin (BTC) and Ethereum (ETH).
Zeberg sees TOTAL-ETH-BTC skyrocketing into “euphoria” near the $1.83 trillion level.
“BLOW-OFF TOP 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!”
At time of writing TOTAL-ETH-BTC is valued at $662.75 billion.
Zeberg shares another chart suggesting that central banks like the Federal Reserve in the US and the European Central Bank (ECB) tend to cut rates shortly 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 hinder economy from falling into recession.
Now look at the chart.
Are we ‘Late Cycle’ – or standing in front of ‘New Economic Expansion’?
THINK!”
This month, both the Bank of Canada (BOC) and the ECB lowered interest rates.
The Federal Reserve’s next statement on the Federal Funds Rate is expected at the June 12th Federal Open Market Committee (FOMC) meeting. The central bank is expected to keep rates unchanged.
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Featured Image: Shutterstock/svetabelaya/WindAwake
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