Crypto Market Primed for Final Bull Run, Economist Predicts
Henrik Zeberg, an economist specializing in the cryptocurrency domain, has conveyed an optimistic outlook regarding the future performance of digital currencies. In a recent discussion on Crypto Banter, he refuted claims that the market has already reached its zenith, placing the probability of such an occurrence at under 5%. Zeberg believes that leading cryptocurrencies, including Bitcoin and a variety of altcoins, still have considerable growth potential.
Bitcoin’s Persistent Bullish Momentum
Zeberg scrutinized Bitcoin’s recent price behavior and observed that the cryptocurrency appears to be adhering to an ascending diagonal pattern, which is further supported by a five-wave advance. This geometric configuration is typical during bull markets, representing a steady climb in both peaks and valleys, which aligns with the principles of Elliott Wave theory. Despite occasional dips attributed to bearish sentiment, Zeberg has consistently upheld his prediction that Bitcoin will exceed the $100,000 threshold within 2024. He now posits that Bitcoin is entering its final vigorous upward phase, projecting a trading range between $123,000 and $125,000, with the possibility of ascending to $140,000.
Altcoins Gearing Up for Expansion
Regarding alternative cryptocurrencies, Zeberg highlighted the TOTAL3 index—a metric that monitors the market capitalization of all crypto assets excluding Bitcoin, Ethereum, and stablecoins—as a critical gauge of altcoin market strength. He anticipates that, in tandem with Bitcoin’s sustained rally, this index will demonstrate a corresponding increase throughout the broader altcoin ecosystem.
According to his assessment, altcoins with substantial market capitalizations are positioned to spearhead the impending rally. While several prominent altcoins are poised to gain traction, Zeberg stressed that Bitcoin’s breakthrough is a prerequisite for altcoins to fully capitalize on the bullish trend.
| Key Metric | Zeberg’s Prediction |
| Bitcoin’s Anticipated Range | $123,000 – $125,000 (with potential to hit $140,000) |
| Probability of Market Peak | Less than 5% |
| Altcoin Health Indicator | TOTAL3 Index |
In summary, Zeberg’s analysis suggests that both Bitcoin and altcoins are preparing for what could be their ultimate and most powerful upward movement in the current bullish cycle.
Tyler Matthews, known as “Crypto Cowboy,” is the newest voice at cryptovista360.com. With a solid finance background and a passion for technology, he has navigated the crypto world for over a decade. His writing simplifies complex blockchain trends with dry American humor. When not analyzing markets, he rides motorcycles, seeks great coffee, and crafts clever puns. Join Crypto Cowboy for sharp, down-to-earth crypto insights.