Henrik Zeberg, a macro guru and economist, has suggested that the crypto markets may be on the verge of a fresh altcoin season. In a tweet to his 106,900 followers, Zeberg noted that an altseason may be imminent as he believes the Federal Reserve has finished hiking interest rates, leading to greed kicking in and the markets pricing in a Fed pause. However, he also shared a chart from crypto hedge fund Swissblock that indicates momentum has slowed down for both Bitcoin and Ethereum.
Despite the slowdown in momentum, Zeberg believes this could provide a “buy-the-dip” opportunity for Bitcoin, as he predicts a possible pullback as the US dollar index (DXY) bounces back in the coming weeks. However, he remains bullish on Bitcoin’s long-term prospects and the crypto markets, stating that “equities and risk assets are going to FLY!”.
Zeberg has been predicting a massive rally in the stock market this year, with Bitcoin rallying alongside it before a meltdown not seen in nearly a century. While he is bearish on Bitcoin and crypto in the short term, he remains optimistic about their potential in the coming months.
An altcoin season is when alternative cryptocurrencies, also known as altcoins, experience a surge in price and market capitalization. These altcoins are often seen as an alternative to Bitcoin and typically have different features and use cases. Altcoin seasons have historically followed periods of growth and interest in Bitcoin, with investors seeking out other investment opportunities in the crypto market.
Zeberg’s prediction of a potential altcoin season and a buy-the-dip opportunity for Bitcoin could signal an exciting time for the crypto markets. However, investors should always remain cautious and carefully consider their investment decisions before jumping in. As with any investment, risks are always involved, and market conditions can change rapidly.