Stock market movements over the next few weeks will be key to whether we’re headed for a short-term or long-term recession, according to Alessio Rastani, a currency market trader and cryptocurrency analyst.
During the period from October to December 2022, the analyst expects the S&P to rise. “If this rebound or rally fails and falls again, it is very likely that we will enter a long-term recession and something very similar to what happened in 2008,” Rastani said in the Cointelegraph interview. recently.
According to the analyst, such a recession could last until 2024 and have a negative impact on the price of bitcoin (BTC).
Speaking about the latest pound crisis, Rastani said its main cause is the rally of the US dollar, which is putting pressure on most other fiat currencies, including the yen and the euro. However, according to Rastani, the US dollar is approaching the top.
“When we see a clean break, a sustained break of the 111.5 and 110 levels on the dollar index, I think the peak is in place for the dollar. I then expect the dollar to decrease over several months, down to 104 and 100 on the dollar index,” he explained.
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