With Rangers set to compete outside of the top flight, Bocanegra feels that no other club can challenge the reigning champions for the title with Neil Lennon's men set to dominate the competition next term.
"Celtic are going to win the league in December. It's frustrating," said the USA national team captain.
"The people in the league want to punish Rangers for wrongdoing but they're just hurting themselves.
"Hopefully they don't put Rangers down to Division Three because I think that's going to set Scottish football back.
"Rangers are such a big institution. It's seriously the coolest club I've ever been a part of."