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

Chief Equity Strategist and Regional Chairman of Mai Capital Management Chris Grisanti has predicted that this year will be tough for cryptocurrencies in large part due to regulations. However, he expects established cryptocurrencies such as bitcoin and ether to “perform quite well” once regulations come into focus.

Crypto predictions from the stock strategist

Chris Grisanti of Mai Capital Management shared his perspective 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 crypto is “almost a victim of its own success,” Grisanti detailed:

I think it is going to be a more difficult year for cryptocurrencies … There will be calls for regulation from everywhere: from China, from Europe and here in the United States.

Nonetheless, the equity strategist sees that some cryptocurrencies will come out ahead. “I think there will also be a great winnowing. I think more established currencies like bitcoin and ethereum will do quite well after regulations are in focus, ”he described.

The strategist elaborated:

Once the regulations are in place, I think institutional investors will feel more comfortable treating Bitcoin not as a currency but as gold, which is a hedge against inflation and other things.

A recent survey by Nickel Digital Asset Management, a regulated digital asset hedge fund manager in Europe, also shows that institutional investors are optimistic about the arrival of more regulations in the crypto industry.

Commenting on granting more power to the US Securities and Exchange Commission (SEC) to regulate the crypto space, “73% of institutional investors and wealth managers believe this will have a positive impact on the price of digital and crypto assets and 32% believe it will have a very positive effect. “

What do you think of the stock strategist’s predictions? Let us know in the comment section.

Kevin helms

Austrian economics student Kevin found 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.

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