Crypto Bull Market Far From Over: Expert Predicts Altcoin Season Ahead

Economist Henrik Zeberg has expressed his belief that the crypto bull market is far from over, predicting a "fantastic" altcoin season ahead. In a recent interview, Zeberg stated that the chances of a crypto market top are less than 5%.

Zeberg's analysis is based on various indicators, which suggest that the crypto market is still in an uptrend. He pointed out that Bitcoin (BTC) is trading in an expanding diagonal structure, which typically indicates higher highs and higher lows in a bull market. Additionally, Zeberg noted that Bitcoin is currently in a five-wave rally, as per the Elliott wave theory, which suggests a bullish asset tends to witness a five-wave surge before entering a corrective period.

Looking at the Bitcoin price, Zeberg believes that the asset is on track to reach his target of $123,000 to $125,000, with the potential of going up to $140,000. He has been guiding his followers with this target since August 2024, even when market sentiment was negative.

As for the altcoin market, Zeberg is closely monitoring the TOTAL3 chart, which tracks the total market cap of all crypto assets excluding Bitcoin, Ethereum (ETH), and stablecoins. He refers to this chart as the Alts Index and believes it is close to sparking the next leg up, driven by his expected bullish BTC price action.

Zeberg predicts that large-cap altcoins will initially lead the market, followed by memecoins later. He expects Solana (SOL) to be one of the driving forces behind this phase. He believes that Bitcoin needs to gain further momentum before the altcoin season truly begins.