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Stan Druckenmiller Says Advantage Crypto, Come Recession Next Year

Derivatives Positions Leading To One Direction

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American investor Stan Druckenmiller is confident of a recession in 2023. He expects a recession next year and after that a market that could stagnate for another decade. Meanwhile, Stan Druckenmiller predicted a bright spot for crypto if central banks continue to lose confidence in the bear market climate. His prediction comes at a time when there is growing concern about a possible recession in the coming future.

Stan Druckenmiller’s Crypto Prediction

Druckenmiller made the comments while speaking at the CNBC Delivering Alpha conference in New York on Wednesday. He said there is a high probability of a recession next year. adding that it could be really bad. The investor explained that the stock market scenario could continue to operate in the current mood. Despite the difficult circumstances, he said, it is possible to make a profit.

“I’d be surprised if we don’t have a recession in 2023. I’m not ruling out something really bad. In a decade, the stock market would be relatively at the same level as it is now.”

He added that the current environment still offers money-making opportunities. More importantly, he expressed a positive view of cryptocurrencies. Cryptocurrencies could benefit if distrust towards central banks swells, explained Stan Druckenmiller. This prediction bodes well for the average retail customer in the crypto ecosystem, which has had many tokenomics issues this year.

Bitcoin outperforms traditional market assets

In this context, the top cryptocurrency recently dominated traditional market assets. Bitcoin, which gained 0.8% against the US dollar, outperformed both US indices and gold in September. However, the general crypto market suffered a decline thanks to the fall in the price of Ethereum. The drop in ETH price after The Merge was a disappointment for the cryptoecosystem that was looking for a price rally.

Anvesh reports on significant developments around crypto adoption and trading opportunities. He has been in the industry since 2016 and is now a strong advocate of decentralized technology. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him at [email protected]

The presented content may contain the author’s personal opinion and is subject to the market situation. Do market research before investing in cryptocurrencies. Neither the author nor the publication is responsible for your personal financial loss.

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