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 crypto analyst Alessio Rastani.
During the period October-December 2022, the analyst expects the S&P to increase. “If this rebounds or the rally fails and goes back down, it’s very likely that we’re going into a long-term recession and something very similar to 2008,” Rastani said in the latest Cointelegraph interview.
According to the analyst, this recession could last until 2024 and would inevitably negatively affect the price of Bitcoin (BTC).
Speaking about the latest crisis in sterling, 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 the euro. However, according to Rastani, the US dollar is nearing the top.
“Once we see a clean break, a sustained break of 111.5 and 110 levels in the dollar index, then I think the top is ready for the dollar. And then I’m looking for a multi-month drop in the dollar up to 104. at the 100 level in the dollar index,” he explained.
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