Economist Henrik Zeberg believes that the most explosive phase of the altcoin market is about to kick off.
Zeberg tells his 182,800 followers on the social media platform X that the altseason, when altcoins outperform Bitcoin (BTC), is just getting started, and massive alt breakouts are likely to occur in the coming days.
He says the Ethereum (ETH/BTC) ratio is flashing bullish for altcoins, after increasing since tapping a local low in late April. Analysts often use the ETH/BTC ratio as an indicator of potential altcoin seasons.
“Altseason has already started. First slowly, later in a more explosive manner. I think we are max three to eight days away from the beginning of that explosive phase. ETH/BTC ratio tells us why…
It is close to setting off in the explosive phase!”
ETH/BTC is trading for 0.02478 BTC ($2,595) at time of writing.
Zeberg suggests that certain altcoins will start breaking out at different times.
“In the altseason it will be about identifying the next altcoin which is about to skyrocket. And then have an idea of how far it may run.”
Among the alts the economist believes will soon print new all-time highs is Solana (SOL)-based memecoin dogwifhat (WIF).
“I maintain my extreme Bullish perspective on WIF.”
In January, he suggested WIF could eventually hit $19.
WIF is trading for $0.86 at time of writing, down 9.9% in the last 24 hours.
Zeberg is also bullish on the Internet of Things (IoT) project Jasmy (JASMY).
The analyst uses the Elliott Wave theory to forecast a massive run for altcoins. The theory states that an asset tends to witness a five-wave rally with wave three being the longest and the strongest move up.
“Ready for Jasmy’s takeoff? We seem to be getting closer to the wave two bottom, little lower. Wave three should take Jasmy much much higher.”
Jasmy is trading for $0.01413 at time of writing, down 4.8% on the day.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE-3
