Stock market movements in the coming weeks will be critical in determining whether we are headed for a short-term or long-term recession.according to forex trader and cryptocurrency analyst, Alessio Rastani.
During the period October-December 2022, analyst expects S&P to rally. “If that bounce or rally fails and it drops again, then, most likely, we will be entering a long-term recession and something very much like 2008.Rastani said in the latest Cointelegraph interview.
According to the analyst, said recession could last until 2024 and would inevitably have a negative impact on the price of bitcoin (BTC).
Speaking about the latest pound sterling crisis, Rastani opined that its main cause is the rally in the US dollar, which is putting pressure on most other fiat currencies, including the yen and euro.. However, in Rastani’s opinion, the us dollar is nearing the top.
“Once we see a clean break, a sustained break of the 111.5 and 110 levels in the dollar index, then I think the top will be in that currency.. And so I’ll be looking for a multi-month decline there, a return to 104 to the 100 level in the dollar index,” he explained.
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