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The next few weeks are "critical" for the stock market and Bitcoin, says the analyst

Published on

February 3, 2023
Read Time:1 Minute, 10 Second

In response to foreign exchange dealer and crypto analyst Alessio Rastani, inventory market actions over the following few weeks might be essential in figuring out whether or not we head for a short-term or a long-term recession.

In the course of the October-December 2022 interval, the analyst expects the S&P to rally. "If that bounces or the rally fails and falls again, then very possible we're going right into a long-term recession and one thing similar to 2008," Rastani stated in the latest Cointelegraph interview.

In response to the analyst, such a recession might final till 2024 and inevitably have a unfavourable impression on Bitcoin (BTC) worth.

Discussing the current sterling disaster, Rastani opined that its major trigger was the rally within the US greenback, which was placing strain on most different fiat currencies, together with the yen and euro. Nevertheless, from Rastani's perspective, the US greenback is nearing the highest.

“As soon as we see a clear break, a sustained break of 111.5 and 110 within the greenback index, then I feel the highest is in for the greenback. After which I count on a multi-month slide within the greenback again to 104 to 100 on the greenback index," he defined.

Do this full interview on our Youtube channel and remember to subscribe!

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : February 3, 2023
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