“I think the more established coins like bitcoin and ethereum will do quite well' after regulations come into focus, said the Mai Capital equity strategist. crypto cryptocurrency
Mai Capital Predicts Tough Year for Crypto — Expects Bitcoin and Ethereum to Do Well Once Regulations Come Into Focus
Mai Capital Management’s chief equity strategist and regional president, Chris Grisanti, has predicted that this year will be tough for crypto largely due to regulations. However, he expects established cryptocurrencies, such as bitcoin and ether, to “do quite well” once regulations come into focus.Mai Capital Management’s Chris Grisanti shared his outlook for the cryptocurrency market in an interview with CNBC Thursday.
Nonetheless, the equity strategist sees some cryptocurrencies coming out ahead. “I do think there will be a great winnowing as well. I think the more established coins like bitcoin and ethereum will do quite well after regulations come into focus,” he described.Once regulations are in place, institutional investors, I think, will get more comfortable treating bitcoin not like a currency but like gold, which is a hedge against inflation and other things.
A recent survey by Nickel Digital Asset Management, a regulated European digital asset hedge fund manager, also shows that institutional investors areCommenting on the U.S. Securities and Exchange Commission being granted more power to regulate the crypto space, “73% of institutional investors and wealth managers believe this will have a positive impact on the price of crypto and digital assets and 32% believe it will have a very positive effect.
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