According to forex trader and cryptocurrency analyst Alessio Rastani, stock market movements in the coming weeks will be crucial in determining whether we are heading into a short-term or long-term recession.
In October-December 2022, the analyst expects the S&P index to rise. “If the situation recovers or doesn’t pick up and then pull back, we’re likely to go into a long-term recession and something very close to what it was in 2008,” Rastani said in a recent interview with Cointelegraph.
According to the analyst, this recession could last until 2024 and will inevitably have a negative impact on the price of bitcoin (BTC).
Speaking about the recent pound crisis, Al Rustani saw the main cause of it as the rise of the US dollar, which puts pressure on most other fiat currencies, including the yen and the euro. But from Al Rustani’s point of view, the US dollar is nearing its peak.
“When we see a clean break and a sustained break of the 111.5 and 110 levels on the dollar index, I think the top is in the dollar. Then I look forward to the multi-month decline of the dollar from 104 to 100 in the dollar index,” he explained.
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