Mai Capital predicts tough year for crypto – expects Bitcoin and Ethereum to perform well once regulations are finalized – Regulation Bitcoin News

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Mai Capital Management chief equity strategist and regional chairman Chris Grisanti has predicted that this year will be tough for crypto, in large part because of regulation. However, he expects established cryptocurrencies, such as bitcoin and ether, to “do pretty well” once the regulations are finalized.

Crypto predictions of the equity strategist

Chris Grisanti of Mai Capital Management shared his outlook for the cryptocurrency market in an interview with CNBC on Thursday. Grisanti, CFA, is Chief Equity Strategist and Regional President of Mai Capital Management, a wealth management firm that provides investment planning and advisory services.

Noting that the crypto is “almost a victim of its own success,” Grisanti detailed:

I think it’s going to be a tougher year for crypto… There will be calls for regulation from everywhere – from China, Europe and here in the United States.

Nonetheless, the equity strategist sees some cryptocurrencies coming out ahead. “I think there will also be a big winnowing. I think more established coins like bitcoin and ethereum will do quite well once the regulations are finalized, ”he described.

The strategist elaborated:

Once the regulations are in place, institutional investors, I think, will be 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 hedge fund manager of digital assets, also shows that institutional investors are bullish about the upcoming increase in regulation in the crypto industry.

Commenting on granting the United States Securities and Exchange Commission (SEC) more powers 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% think so. will have a very positive effect.

What do you think of the equity strategist’s predictions? Let us know in the comments section below.

Kevin helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons


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