Mai Capital Predicts Tough Year for Crypto — Expects Bitcoin and Ethereum to Do Well Once Regulations Come Into Focus

Mai Capital Management’s main equity strategist and determination president, Chris Grisanti, has predicted that this twelvemonth volition beryllium pugnacious for crypto mostly owed to regulations. However, helium expects established cryptocurrencies, specified arsenic bitcoin and ether, to “do rather well” erstwhile regulations travel into focus.

Equity Strategist’s Crypto Predictions

Mai Capital Management’s Chris Grisanti shared his outlook for the cryptocurrency marketplace successful an interrogation with CNBC Thursday. Grisanti, CFA, is main equity strategist and determination president of Mai Capital Management, a wealthiness absorption steadfast that provides readying and concern advisory services.

Noting that crypto is “almost a unfortunate of its ain success,” Grisanti detailed:

I deliberation it’s going to beryllium a tougher twelvemonth for crypto … There volition beryllium calls for regularisation from each implicit the spot — from China, from Europe, and present successful the United States.

Nonetheless, the equity strategist sees immoderate cryptocurrencies coming retired ahead. “I bash deliberation determination volition beryllium a large winnowing arsenic well. I deliberation the much established coins similar bitcoin and ethereum volition bash rather good aft regulations travel into focus,” helium described.

The strategist elaborated:

Once regulations are successful place, organization investors, I think, volition get much comfy treating bitcoin not similar a currency but similar gold, which is simply a hedge against ostentation and different things.

A caller survey by Nickel Digital Asset Management, a regulated European integer plus hedge money manager, besides shows that organization investors are optimistic astir much regularisation coming to the crypto industry.

Commenting connected the U.S. Securities and Exchange Commission (SEC) being granted much powerfulness to modulate the crypto space, “73% of organization investors and wealthiness managers judge this volition person a affirmative interaction connected the terms of crypto and integer assets and 32% judge it volition person a precise affirmative effect.”

What bash you deliberation astir the predictions by the equity strategist? Let america cognize successful the comments conception below.

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