Famous economist Henrik Zeberg predicts that the weakening US dollar will ignite a rise in cryptocurrencies. According to Zeberg, low bond yields and a decline in the US dollar index (DXY) will create an ideal environment for cryptocurrencies. The economist specifically pointed out JasmyCoin (JASMY) as the altcoin he expects to rise.
JasmyCoin (JASMY) Expected to See Strong Growth
Zeberg is particularly bullish on JasmyCoin, a blockchain project focused on personal data storage, and its main network asset JASMY. He believes the decline in DXY and bond yields will pave the way for JASMY’s next rise and potentially bring significant gains.
Using Elliott Wave Theory, Zeberg predicts a five-wave rise for JASMY, noting that the current phase likely corresponds to the third wave. He emphasized that technical indicators like the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the daily chart indicate a reversal of the downtrend and a shift to an upward trend.
Zeberg highlighted significant upward potential in JASMY’s price and drew parallels with previous price rises. While encouraging investors to consider joining the rally, he expressed confidence in the altcoin’s upward trajectory. The analyst expects JASMY to rise up to $1.28.
Currently, JASMY is trading at $0.02, and recent data shows a notable rise in the altcoin’s price over the last 24 hours.
Zeberg Also Comments on Bitcoin
On the other hand, Zeberg also commented on Bitcoin (BTC), the largest cryptocurrency. The economist predicted a “melting” phase when the RSI exceeds the 70 level on a monthly time frame. Zeberg expects a target price range of $110,000 to $115,000 for Bitcoin, emphasizing the need for a significant pause after a potential peak breakout.
BTC, at the time this article was prepared, has risen 2.25% in the last 24 hours, pricing just above the $65,000 threshold at $65,143.
