As we entered October, the third quarter of 2022 came to an end. Therefore, the focus of investors and analysts is now on what can happen in the fourth quarter of 2022. A popular Bitcoin and altcoin analysts claim that the last quarter of the year could rally the markets. Here are the details…
There are key catalysts for bitcoin and altcoin markets
Digital Asset News’ Mike, analyst Benjamin Cowen and InvestAnswers host say some key catalyst is piling up on the Bitcoin (BTC) and crypto markets right now. Analysts point out that inflation has fallen. In general, they say, “we know that the demolition of demand is in place”. Pointing out that the CPI data will yield positive outputs in the next two or three months, analysts are therefore hopeful about the markets. The video includes the following statements:
Inflation is falling. We don’t know how fast, but we think demand destruction is in place, pretty fast. We will get good CPI data in the next two or three months. Markets are definitely bottoming out. My guess is for the S&P 500 to base 3,500 points, up 4,800 points in six to 12 months. There’s tons of cash around. $3 trillion is waiting to be distributed… If the war between Russia and Ukraine had stopped, this game would have continued…
Analysts point to macroeconomic developments
Later, analysts pointed to the UK’s interest rate hike this week. As we have reported as Kriptokoin.com, many central banks around the world seem to be watching the FED in terms of interest rate hikes. According to analysts, we are now watching the fluctuation of credit markets. They point out that China has made it very clear that it will throw the remainder of its trillion dollars into the treasury as soon as possible.
According to analysts, this will put downward pressure on DXY (US dollar index). They suggest that this, in turn, will help other emerging market currencies. Crypto analysts say that historically, the fourth quarter has signaled an overall bullishness for the markets. They say they see a good chance of repeating the rise this year as well.
Currently, Bitcoin (BTC) is changing hands at $19,201, down 0.5 percent. The largest cryptocurrency by market cap has gained 1.4 percent in the last 7 days. On the other hand, the largest altcoin is changing hands at $1,297, down 1%. ETH is struggling with $1,300, while BTC is struggling with $20,000. The overall cryptocurrency market value fell 0.5 percent. It currently stands at $967 billion.
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