Next few weeks are ‘critical’ for stock market and Bitcoin, analyst says

Alessio Rastani, a cryptocurrency analyst and trader, shares his outlook on crypto, stocks and the forex market for the next weeks.

The stock market’s movements in the next few weeks will be critical for determining whether we are heading towards a short-term recession or a long term-one, according to forex trader and crypto analyst Alessio Rastani.

During the October-December 2022 period, the analyst expects to see the S&P rallying. “If that bounces or rally fails and drops back down again, then very likely, we’re entering a long-term recession and something very close to similar to 2008”, said Rastani in the latest Cointelegraph interview.

According to the analyst, such a recession could last until 2024 and would inevitably negatively impact the price of Bitcoin (BTC). 

Talking about the latest Pound sterling crisis, Rastani opined that its principal cause is the rally of the U.S. dollar, which is putting pressure on most other fiat currencies, including the yen and the euro. However, in Rastani’s view, the U.S. dollar is approaching the top.

“Once we see a clean break, a sustained break of 111.5 and 110 levels on the dollar index, then I think the top is in for the dollar. And then I’m looking for a multi-month decline in the dollar back to 104 to the 100 level on the dollar index,” he explained. 

Check out the full interview on our YouTube channel and don’t forget to subscribe!

Related Posts

BlackRock CEO: FTX caused its downfall, but Bitcoin is still revolutionary for the evolution of financial markets

The BlackRock CEO still sees crypto assets as revolutionary, even though he disagrees with the issuance of tokens by centralized exchanges. The CEO of the asset management…

IOTA: Holders of $SOON can stake their tokens, get massive discounts and more – Report

Soonaverse brings a staking feature for its $SOON tokens with 2x rewards points for disciplined stakers. It will also bring a greater level of decentralization to how…

Turning Garbage Into Digital Gold: The Rise Of Landfill Bitcoin Mining

Powering bitcoin mining operations with landfill waste is the latest trend in sector growth as miners capitalize on wasted and stranded energy resources. Powering bitcoin mining machines…

Blur Airdrop 2 Is Scheduled For Monday: Is Free Money Season Back?

NFT marketplace, Blur is back with a second airdrop for its users. In a tweet on Wednesday, November 30, Blur announced that its airdrop 2 would arrive…

Russian Billionaire and Crypto Businessman Dies in Helicopter Crash in France

Russian financier and cryptocurrency entrepreneur Vyacheslav Taran has been killed in a helicopter crash on French territory. The accident marks the latest in a series of deaths…

Binance Plays Chess With Troubled Crypto Firms Struck by FTX Contagion

Binance continues with auditing and acquisitions following the collapse of rival exchange FTX, the contagion from which continues to spread. With the collapse of FTX, other crypto…

Generated by Feedzy