Bitcoin and Crypto markets bottoming - Q4 will be better - top analyst

A prominent crypto analyst argued that the last quarter of the year could bring a recovery to the digital asset market.

Bitcoin and Crypto markets bottoming - Q4 will be better - top analyst

In a new panel discussion with Digital Asset News analysts Benjamin Cowen and Mike, the InvestAnswers host says that a number of fundamental catalysts are currently piling up in favor of Bitcoin (BTC) and the crypto market death.

“Inflation is falling. We don't know how fast, but we take into account the destruction of demand, it's pretty fast. We should have some good impressions of the CPI (consumer price index) in the next two or three months.

The market is definitely bottoming. [For the S&P 500], my opinion is 3,500 basis points for the bottom, 4,800 points 6 to 12 months from now. And there's a lot of cash on the sidelines. 3 trillion dollars waiting to be deployed...

If the war stopped [between Russia and Ukraine], that would be the beginning of the game… In terms of the Federal Reserve, they talk a lot, they talk a lot, but do they bite their teeth?

Witness credit markets rocking like we're seeing now after seeing the UK flash this week, after seeing the German print. China said very clearly that it will get rid of the rest of the trillions of dollars in Treasuries as quickly as possible, that will put downward pressure on the DXY (US dollar index) and hopefully help a currency of other emerging markets."

The crypto analyst says that historically, Q4 has been generally bullish for the market and that he sees a good opportunity for a repeat this year.

“We know that the fourth quarter is good. We know that October is commonly known as 'Uptober' and 'Moonvember' and all these different names exist. I expect good things, especially now that people see how their national currency is being destroyed, they are looking for a hedge. It only takes a little, implementing 1% or 2% of assets has a big impact on Bitcoin, so I see a good Q4 from here. "

Oct 02, 2022

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