Mai Capital predicts a difficult year for cryptocurrencies-Bitcoin and Ethereum are expected to perform well once regulation becomes the focus-Bitcoin News

Chris Grisanti, chief equity strategist and regional president of Mai Capital Management, predicts that cryptocurrencies will become difficult this year, mainly due to regulatory reasons. However, he expects that mature cryptocurrencies, such as Bitcoin and Ethereum, will “do well” once regulation becomes the focus.

Crypto forecasts for stock strategists

Chris Grisanti of Mai Capital Management shared his outlook on the cryptocurrency market in an interview with CNBC on Thursday. Grisanti, CFA, is the chief stock strategist and regional president of Mai Capital Management, a wealth management company that provides planning and investment consulting services.

Noting that encryption is “almost a victim of its own success,” Grisanti elaborated:

I think this will be a tougher year for cryptocurrencies… People from all over China, Europe and the United States will call for regulation.

Nonetheless, stock strategists believe that some cryptocurrencies are about to emerge. “I do think there will be a good win. I think more mature tokens like Bitcoin and Ethereum will do well after regulation becomes the focus,” he described.

The strategist elaborated:

Once the regulation is in place, I think institutional investors will be more comfortable with Bitcoin as a hedge against inflation and other things, rather than treating Bitcoin like a currency.

A recent survey by Nickel Digital Asset Management, a regulated European digital asset hedge fund manager, also showed that institutional investors optimistic More regulation on the encryption industry.

When commenting on the U.S. Securities and Exchange Commission (SEC) gaining more power to regulate the crypto space, “73% of institutional investors and wealth management institutions believe that this will have a positive impact on the price of encryption and digital assets, and 32% believe this Will have a very positive impact.”

What do you think of the forecasts of stock strategists? Please let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, 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.

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