Macroeconomist Henrik Zeberg shared that the cryptocurrency market is giving serious bullish signals.
Henrik Zeberg on social media dated November 5 In his post, shed light on the current situation of the cryptocurrency industry. Analyzing the peaks that the new cycle could reach, based on the total market value of the cryptocurrency market, Zeberg said that the rise this time could surpass all previous ones.
In the cryptocurrency marketextreme fear” – “euphoriaThe experienced name, who proceeds through concepts that represent the market cycle such as “, this time the euphoria point of the cycle that will be experienced” 2021 He emphasized that he could easily leave the year behind.
Zeberg describes the current situation as the best possible for risk assets. One of the bullish scenarios While interpreting it as, he did not hesitate to support this claim with significant indicators.
In the table presented by the economist, there are both total cryptocurrency market value a weekly bull flag being, both RSI of the signal extremely positive Being located in a region and working as resistance for weeks 1.29 trillion level The fact that it was finally broken was among the catalysts of this thesis.
The RSI indicator currently has an upward momentum and finally “extreme bullStating that it has entered the ” region, the total cryptocurrency market value has fallen from the peak in November 2021. 50% He claimed it would go higher.
In the market cycle followed by many experts, extreme fear generally represents market bottoms. euphoria It appears as the representative peak region where everyone on the street starts talking about cryptocurrencies.
According to CoinGecko data, it increased by 0.2% in the last 24 hours. Bitcoin (BTC) while writing from $34,900 is being traded. Accordingly, the total value of the cryptocurrency market pointed out by the analyst is 1.299 trillion It is located at the level.