News View Non-AMP

Crypto Market Crash Could be Worse Than 2008 – Predicts Bloomberg Analyst

Published by
Sohrab Khawas

The crypto market especially Bitcoin and Ethereum under a sluggish moment since the inflation rate for August was released. The majority of cryptocurrencies are striving for a bull run.

At the time of publication, Bitcoin is selling at $19,387 with a surge of 4.85% in the last 24hrs and Ethereum is trading at $1,361 after a push of 4.65% over the last day.

However, a senior Commodity Strategist at bloomberg Intelligence, mike mcglone claims that the US Federal Reserve’s inflation “sledgehammer” which is planning to increase the interest rates will hammer the market performance and cause a crash that will be worse than that of 2008. However, the analyst says that by 2025 Bitcoin and Ethereum will recover and hit new all-time highs.

Bitcoin Price At $100K By 2025

The increasing inflation has forced the Fed to kinke nearly 225bps over the year. Now, ahead of the FOMC meeting, a few of the market participants are expecting the interest rates to be hiked by 75 basis points, while a few are fearing a 100bps interest rate hike which would be the biggest in the last 40 years.

While in conversation with financial news, Kitco News, Mike McGlone warns market participants of a further drop for Bitcoin, Ethereum, and other major cryptocurrencies due Federal Reserve’s action.

Along with Bitcoin, Ethereum has plunged which wasn’t expected as there were high expectations that the ETH merger will push the currency towards new highs. Instead, the upgrade turned out to be a buy the rumor, sell the news kind of event due to which Mike predicts Ethereum to plunge near $1,000 or even more.

Conversely, the expert also predicts that by the end of 2025, Bitcoin will hit as high as $100,000 and also portrays a bullish stance towards Ethereum because of future institutional adoption.

Meanwhile, another analyst, Kristina Hooper, Invesco’s chief global strategist also believes that Fed will play a vital role in the way the market is set to perform in the coming days. On the other hand, Ark Invest CEO is also on the same stance that Fed’s interest rate hike will see deflation instead.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

A Brewing War? How Jupiter, BullX, and Axiom are Grappling with AI‑Powered “Vibe” Traders

What happens when retail traders get smart? The house fights back. In this context, one…

July 8, 2025

These 4 Coins Will Grow $100 into $10,000 Faster Than Shiba Inu (SHIB) Did, All Priced Below $0.50

In 2021, Shiba Inu (SHIB) shocked the world by transforming small investments into substantial wealth.…

July 8, 2025

Ruvi AI (RUVI) Sparks Comparison With Solana (SOL), Analysts Say Its Audited Utility Token Can Be This Cycle’s Best Performer

Cryptocurrency enthusiasts and analysts are buzzing over the rise of Ruvi AI (RUVI), a blockchain-based…

July 8, 2025

Meet Pepeto: The Frog Memecoin Aiming to Outrank DOGE, SHIB & PEPE in 2025

The memecoin landscape has matured far beyond what many expected. What started as jokes have…

July 8, 2025

Is $1 Still Possible for Dogecoin (DOGE)? Experts Tip a Newcomer With Real-World Utility to Outperform

Dogecoin (DOGE) blasted from $0.166 to $0.173 on July 6, its best hourly jump in…

July 8, 2025

Cardano (ADA) Whales Accumulate Before Potential Rally, But It’s This Undervalued Token Drawing the Buzz In July

While ADA whales continue to stockpile quietly, a rising contender Remittix (RTX) is stealing the…

July 8, 2025