In a new interview with Yahoo Finance, McGlone states that the Federal Reserve's rate hikes are more damaging to the US stock market in the long run than leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

   “As the Fed needs to reduce inflation, rate hikes will continue. The stock market will continue to decline. However, the most important thing to remember is that Bitcoin and Ethereum will bounce back after falling. In general, these emerging crypto assets, especially "Bitcoin's volatility continued to drop against the stock market. That's how it was when Amazon first came out. Its volatility in 2009 is now the same as BTC."


McGlone says cryptocurrencies represent the next revolution, like Amazon, startups in the 2000s and 2010s.

   "Investors are looking forward to the future, do you really want to miss out on this revolution? That's what I've seen. There are some sell offers on the stock market and offers below on assets like Bitcoin and Ethereum."

Bitcoin fell from $ 36 thousand a week ago to $ 27 thousand. BTC is trading at $ 30,192 as of now (20:02). McGlone states that BTC is not the only asset class to fall.

   “BTC, with all its risk assets, is falling too. What happened to the S&P 500 this week? It finally fell below 4,000 for a while. For the first time in nearly two years, both Bitcoin and the S&P 500 have returned to their 100-week moving averages. In the last five, 10 years The asset that has risen the most will bounce back despite Fed monetary policy.”

The crisis in the market divided the investors into 2. Some investors see this crisis as an opportunity to buy from the bottom. Some investors are predicting that prices will fall even more. That's why there is panic selling in the market, including Tether. The data shows that crypto market sentiment is still weakened by “extreme fear.” BTC's recent decline was driven by two main factors, fears of rising inflation and the Fed's rate hikes. Both of these factors still apply to the market.