Economist Predicts Major Altcoin Surge Before Recession: 'Altseason Will Send Alts Flying'
Portfolio Pulse from Benzinga Neuro
Economist Henrik Zeberg predicts a significant rise in the altcoin market, suggesting a euphoric bull run is imminent. This comes as central banks, including the ECB, cut rates to prevent a recession. The approval of Ethereum ETFs has intensified competition in the smart contract arena, potentially benefiting altcoins like Cardano and Polkadot.
June 10, 2024 | 2:18 pm
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POSITIVE IMPACT
Cardano could benefit from the 'rising tide lifting all boats' effect as new investors enter the altcoin market.
As new investors enter the altcoin market, established altcoins like Cardano are likely to benefit from increased market activity.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Polkadot is expected to benefit from the influx of new investors in the altcoin market.
Polkadot, as an established altcoin, is likely to benefit from the increased market activity driven by new investors.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
The approval of Ethereum ETFs has intensified competition in the smart contract arena, potentially benefiting Ethereum.
The approval of Ethereum ETFs is a significant regulatory milestone that could attract new investors, boosting Ethereum's market position.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80