Renowned economist Henrik Zeberg predicts a bullish surge in the altcoin market leading to new record highs just before a global economic downturn occurs.

With a following of 143,000 on the social media platform X, Zeberg points to the TOTAL-ETH-BTC chart, which tracks the combined market capitalization of all cryptocurrencies excluding Bitcoin (BTC) and Ethereum (ETH).

Zeberg anticipates TOTAL-ETH-BTC to skyrocket towards the $1.83 trillion mark, reaching a state of “euphoria” in the market.

In his analysis, Zeberg expresses that the “BLOW-OFF TOP” phase is far from over, indicating that both US equities and cryptocurrencies are poised for a significant upsurge in the final, most speculative stage of the business cycle. He believes that the upcoming altseason will propel altcoins to new heights, fostering a sense of euphoria among investors.

At the time of writing, TOTAL-ETH-BTC stands at $662.75 billion.

Zeberg also presents a chart illustrating how central banks such as the Federal Reserve in the US and the European Central Bank (ECB) typically lower interest rates just before an economic recession.

He deliberates on whether the current economic scenario signifies an “Economic Expansion” or if it indicates that a recession is on the horizon, emphasizing the recent rate cuts by the ECB and the Bank of Canada (BOC).

Looking ahead, the Federal Reserve’s upcoming statement on the Federal Funds Rate, scheduled for the June 12th Federal Open Market Committee meeting, is expected to maintain the status quo by keeping rates unchanged.

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