Analyst told what cryptocurrencies will face at the end of the year

The cryptocurrency market is declining following stock indices, and, in their turn, they fall due to two main reasons: rising rates from the outside regulators (Fed, ECB, Bank of England, etc.) and the onset of a global recession, which is already becoming a fact.

In such conditions, a sharp increase in investor interest in risky assets just cannot be expected, Artem Deev, the head of the analytical department at AMarkets, explained to Invest-Foresight.

Capital flight is now happening around the world, which is unlikely to stop in the foreseeable future, the expert believes.

“Usually after the indices fall by 20% or more, which has already happened in the United States, recovery takes from one and a half to three years. Probably such a period will also be required for cryptocurrency to recover. Therefore, we should not wait for a serious growth neither of bitcoin nor of  ether. On the contrary, we may soon see bitcoin at the level of $10-12 thousand, and ether – at about $1000 per coin, – the analyst predicts. “This is a prospect until the end of this year.”

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