An Economist Predicts Crypto Market Cap to Skyrocket Over 250% to $12.95 Trillion

An economist well-known for his accurate market predictions has forecasted a significant surge in the total cryptocurrency market cap. Henrik Zeberg, with a substantial following of 186,700 on X, believes that the total crypto market cap will soar over 250% from its current levels.

Zeberg is closely monitoring the TOTAL chart, which tracks the overall market cap of cryptocurrencies excluding stablecoins. According to his analysis, he predicts that the TOTAL market cap will reach a staggering $12.95 trillion in a wave five rally. This surge will be supported by increasing momentum indicators such as the relative strength index (RSI) and the relative vigor index (RVGI). Additionally, the moving average convergence divergence indicator (MACD) is signaling a strong uptrend in the asset class.

Both the RSI and RVGI are momentum indicators, while the MACD is a trend-following oscillator. Zeberg emphasizes that the upcoming rally will be driven by a massive euphoria phase similar to what was observed in 2017 and 2021.

As of the current moment, the TOTAL market cap is trading at $3.681 trillion.

Bitcoin and Altcoin Predictions

When it comes to Bitcoin, Zeberg indicates that BTC is currently experiencing a wave three surge, a phase characterized by a sharp rally according to the Elliott Wave theory. This theory is a sophisticated technical analysis approach that aims to forecast future price movements based on crowd psychology expressed in waves.

At present, Bitcoin is valued at $119,476. Zeberg also anticipates that altcoins will initiate rallies in the near future, especially as Ethereum (ETH) shows signs of resurgence.

He states, “ETH is making the expected move and will likely lead the altcoin rally. This is a positive sign for Altseason, and I expect ETH to surge higher before a potential pullback in late summer.”

Currently, ETH is trading at $2,984.

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