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Economist and macro strategist Henrik Zeberg believes that the crypto markets will see a massive surge to the upside before the cycle ends.
In a new thread, Zeberg tells his 198,300 followers on X that the OTHERS chart, which tracks the market cap of all crypto assets excluding the 10 largest coins and stablecoins, is breaking out of a key resistance level against Bitcoin (OTHERS/BTC) on the weekly chart, indicating a bullish trend reversal.
“No where near the top in crypto! Altseason is alive and well. This is insanely BULLISH!”
Source: Henrik Zeberg/X
Looking at his chart, the economist suggests that the OTHERS/BTC ratio is breaking out at the key resistance level of 0.14 and he predicts that the ratio will peak at around 0.66.
The OTHERS/BTC ratio is hovering around 0.135 at time of writing.
Zeberg also says in a new strategy session on the analytics platform Swissblock’s YouTube channel, that he is short-term bullish on the BTC/gold ratio, which is the value of Bitcoin relative to the price of gold.
“Bitcoin probably looks like it has a much more upside to gold in the short timeframe… The timeline for this would be very bullish Bitcoin versus gold here, but 10 years out very bullish gold versus Bitcoin, and also gold versus the S&P 500…
Bitcoin and gold here, this is a classic setup for something that is going to reach the top, maybe somewhere up here [at 66], and then you have a divergence on the strength of it, which means that even though it’s going up, the strength of that move is weakening. I think we’re going to see a large top in the ratio between Bitcoin versus gold.”
Source: Henrik Zeberg/YouTube
Looking at his chart, the economist suggests that the BTC/gold ratio could rise approximately 35x in the short term. The BTC/gold ratio currently stands at 30.
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