Crypto Market Bubble to Burst, Warns Analyst
CryptoNewsTerminal Staff13 Aug, 2024
Crypto Market Bubble to Burst, Warns Analyst
According to DailyHodl, macroeconomist and trader Henrik Zeberg recently warned of an impending bubble burst in the crypto market. He emphasized that the US economy is facing its biggest bubble in nearly a century. Comparing the current situation to the 2008 financial crisis, Zeberg noted that the stock market cap then was about 109% of GDP, while now it's 200% of GDP. He believes that when this bubble bursts, crypto will inevitably be affected. Zeberg assumes that 99% of all cryptocurrencies today will go to zero, calling the valuation of Dogecoin at $15 billion "ridiculous."
