The renowned economist, Henrik Zeberg, has made a bold prediction that the weakening US dollar will act as a catalyst for the growth of cryptocurrencies. Zeberg believes that the combination of low bond yields and a decline in the US dollar index (DXY) will create the perfect environment for the crypto market to thrive. Specifically, he has identified JasmyCoin (JASMY) as the altcoin that he expects to experience significant growth.
Zeberg’s optimism is particularly focused on JasmyCoin, a blockchain project that specializes in personal data storage, and its main network asset, JASMY. He believes that the decline in the DXY and bond yields will pave the way for JASMY’s next surge, potentially resulting in substantial profits for investors.
Utilizing the Elliott Wave Theory, Zeberg has predicted a five-wave increase for JASMY, suggesting that the current phase aligns with the third wave. He has highlighted technical indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the daily chart, which indicate a reversal of the downtrend and a shift towards an upward trend.
Zeberg has drawn parallels between JASMY’s current situation and previous price surges, indicating significant upward potential for the altcoin. Encouraging investors to consider joining the rally, he is confident in JASMY’s trajectory and expects it to reach a price of $1.28.
Currently, JASMY is being traded at $0.02, and recent data shows a notable increase in its price over the past 24 hours.
In addition to his predictions for JASMY, Zeberg has also commented on Bitcoin (BTC), the largest cryptocurrency in the market. He anticipates a “melting” phase when the RSI surpasses the 70 level on a monthly timeframe. Zeberg has set a target price range of $110,000 to $115,000 for Bitcoin, emphasizing the importance of a significant pause following a potential peak breakout.
As of the time of writing this article, BTC has experienced a 2.25% increase in the past 24 hours, currently trading just above the $65,000 threshold at $65,143.
It is important to note that the information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies, and conduct their own research before making any investment decisions.
