Renowned economist Henrik Zeberg has made a bold prediction, suggesting that the weakening of the US dollar will spark a surge in the world of cryptocurrencies. Zeberg believes that the combination of low bond yields and a decline in the US dollar index (DXY) will create the perfect conditions for cryptocurrencies to thrive. In particular, he has his eye on JasmyCoin (JASMY), an altcoin that he expects to experience significant growth.
JasmyCoin is a blockchain project that focuses on personal data storage, with its main network asset being JASMY. Zeberg is highly optimistic about the future of JASMY, stating that the decline in DXY and bond yields will pave the way for its next rise, potentially resulting in substantial gains. Utilizing the Elliott Wave Theory, Zeberg predicts a five-wave rise for JASMY, highlighting that the current phase corresponds to the third wave. He also points to technical indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the daily chart, which suggest a reversal of the downtrend and a shift towards an upward trend.
Zeberg is particularly excited about the upward potential of JASMY’s price, drawing comparisons to previous price increases. He encourages investors to consider joining the rally, expressing confidence in the altcoin’s trajectory. The economist expects JASMY to reach a price of $1.28. Currently, JASMY is trading at $0.02, and recent data indicates a significant rise in its price over the past 24 hours.
In addition to JasmyCoin, Zeberg also commented on Bitcoin (BTC), the largest cryptocurrency in the market. He predicts a “melting” phase when the RSI surpasses the 70 level on a monthly time frame. Zeberg anticipates a target price range of $110,000 to $115,000 for Bitcoin, emphasizing the importance of a substantial pause after a potential peak breakout.
At the time of writing, BTC has experienced a 2.25% increase in the last 24 hours, with a price just above the $65,000 mark at $65,143.
Disclaimer: The information provided in this article is not intended as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct thorough research before making any investment decisions.