Renowned economist Henrik Zeberg has made a bold prediction, stating that the weakening of the US dollar will act as a catalyst for the rise of cryptocurrencies. Zeberg specifically highlighted JasmyCoin (JASMY), an altcoin focused on personal data storage, as the digital asset he expects to experience substantial growth.
According to Zeberg, the decline in the US dollar index (DXY) and low bond yields will create the perfect conditions for JASMY’s upward trajectory. Utilizing the Elliott Wave Theory, Zeberg anticipates a five-wave rise for JASMY, with the current phase likely corresponding to the third wave. Technical indicators, such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) on the daily chart, suggest a reversal of the downtrend and a shift towards an upward trend.
Zeberg emphasized the significant growth potential in JASMY’s price and drew comparisons to previous price surges. Encouraging investors to consider joining the rally, he expressed confidence in the altcoin’s trajectory, expecting it to reach up to $1.28.
As of now, JASMY is trading at $0.02, with recent data indicating a notable increase in the altcoin’s price over the past 24 hours.
In addition to his comments on JASMY, Zeberg also discussed Bitcoin (BTC), the largest cryptocurrency. He predicted a “melting” phase for BTC when the RSI surpasses the 70 level on a monthly time frame. Zeberg set a target price range of $110,000 to $115,000 for Bitcoin, emphasizing the importance of a significant pause after a potential peak breakout.
At the time of writing, BTC has experienced a 2.25% increase in the past 24 hours, reaching just above the $65,000 mark at $65,143.
It is important to note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
