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

Cryptocurrency analyst and trader Alessio Rastani shares his outlook on crypto, stocks and the forex market for the coming weeks .

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Stock market movements over the next few weeks will be key in determining whether we are heading into a short-term or long-term recession, according to forex trader and crypto analyst Alessio Rastani.

During the October-December 2022 period, the analyst expects to see the S&P recover. “If this bounces back or the rally fails and comes back down, then most likely we are entering a long-term recession and something very close to 2008,” Rastani said in the latest Cointelegraph interview.

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According to the analyst, such a recession could last until 2024 and would inevitably have a negative impact on the price of Bitcoin (BTC).

Talking about the latest pound crisis, Rastani believed that its main cause was 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 approaching the top.

"Once we see a clear break, a sustained break, 111.5 and 110 levels on the dollar index, then I think the dollar is at the top. And then I'm looking for a multi-month decline dollar from 104 to the 100 level on the dollar index,” he explained.

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