Doom and gloom may be on the cards for BTC, ETH, crypto, and basically every other risk asset according to a Bloomberg analyst, as he tips the next interest rate hike to cause a crash worse than the “2008 correction.”
that further market carnage is on the cards for BTC, ETH and the broader crypto sector as Fed’s actions will continue to dampen investor sentiment:
ETH’s 20% drop in particular has been a cause of discussion, as the price of the asset has tanked since the highly anticipated and long awaited Merge went through on Sept. 15. “I’m afraid [The Merge] got too hyped,” said McGlone, adding that ETH’s price decline is “within a significant macroeconomic broad-based bear market for all risk assets.”
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