Top Analyst Makes Case for Q4 Bitcoin and Crypto Rally as Fiat Currencies Get Crushed
A popular crypto analyst makes the argument that the last quarter of the year could bring a rally to the digital asset markets.
In a new discussion with fellow analysts Benjamin Cowen and Mike of Digital Asset News, the host of InvestAnswers says that a number of fundamental catalysts are currently stacked up in favor of Bitcoin (BTC) and crypto markets.
– Inflation is falling. We don’t know how fast, but we expect the destruction of demand in place, it is quite fast. We’re going to get some good CPI (consumer price index) prints in the next two or three months.
The markets are definitely at the bottom. [For the S&P 500], 3500 points base for a floor, upside 4800 points within six to 12 months is my assessment. And there’s tons of money on the sidelines. 3 trillion dollars waiting to be distributed…
If the war stopped [between Russia and Ukraine]it would be game on… As for the Fed, they talk a big game, they do a lot of jaw-boning, but have they bitten?
Seeing the credit markets wobble as we are seeing now after seeing the UK blink this week, after seeing Germany print. China is saying very clearly that they are going to dump the rest of their trillions of dollars in government bonds as quickly as possible, that is going to put downward pressure on the DXY (US dollar index), and hopefully help some of the other emerging market currencies. “
The cryptoanalyst says historically, Q4 has generally been positive for the markets, and he sees a good chance of that happening again this year.
“We know that Q4 is good. We know that October is often called ‘Uptober’ and ‘Moonvember’ and all these different names are out there. I expect good things, especially now with people seeing how their domestic currencies are being crushed, they are looking after a hedge. It just takes a little bit, deploying 1% or 2% of assets has a huge impact on Bitcoin, so I see a good Q4 from here.”
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