A prominent crypto trader Henrik Zeberg forecasts a massive surge in the total cryptocurrency market capitalization. Zeberg, known for his often bearish views on cryptocurrencies, now sees a potential 400% increase, propelling the market to a remarkable $4.4 trillion.
He believes that the crypto market is on the verge of an epic rally that could surpass previous highs seen in 2021.
XRP Hits a Critical Milestone
In a surprising shift from his usual stance, Zeberg is optimistic about the industry’s future. Zeberg’s confidence comes from a careful study of the entire crypto market’s value.
After reaching an all-time high of $3.2 trillion in November 2021, the crypto market faced significant challenges and underwent a 78.75% drop, shrinking to $688.44 billion by early 2023, leading to widespread fear in the market.
However, Zeberg’s analysis highlights an interesting development in the last six months – the emergence of a bull flag pattern in the overall market, which has now broken out, with a total valuation of $1.29 trillion.
According to Zeberg, this breakout marks the beginning of a significant market resurgence, aiming to push the total market cap to a staggering $4.4 trillion.
Zeberg’s Bullish Stance
This isn’t the first time Zeberg has made such a bold prediction. Previously, he foresaw the rise of Bitcoin and other cryptocurrencies relying upon the absence of an economic recession.
According to Zeberg, this trend results from an increase in liquidity within the system, and he refers to the positive signals from Swissblock indicators, as reported by coinpedia earlier.
From Fear to Optimism
Zeberg’s predictions align with a trend that began in 2018 and was reaffirmed in 2021, as shown in his chart. He emphasizes that the shift from extreme fear to euphoria is the key to this transformation.
If Zeberg’s vision becomes a reality, cryptocurrency enthusiasts may see Bitcoin (BTC) reaching new heights, possibly hitting an impressive $99,000 as soon as March 2024.