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Mai Capital Forecasts Rough Year for Crypto

Mai Capital Forecasts Rough Year for Crypto

Chris Grisanti of Mai Capital Management spoke with CNBC on Thursday about his expectations for the cryptocurrency sector. Grisanti, a CFA, is the chief equities strategist and regional president of Mai Capital Management, a wealth management organization that offers financial planning and investing advice. It’s worth noting that cryptocurrency is nearly 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 all over the place — from China, from Europe, and here in the United States.” Despite this, the stock strategist believes that some cryptocurrencies will outperform.  “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. The strategist particularized: “Once regulations are in place, institutional investors, I think, will get more comfortable treating bitcoin not as a currency but like gold, which is a hedge against inflation and other things.” Institutional investors are also bullish about further regulation coming to the crypto market, according to a recent survey by Nickel Digital Asset Management, a regulated European digital asset hedge fund manager. ’73 percent of institutional investors and wealth managers believe this will have a positive impact on the price of crypto and digital assets, and 32 percent believe it will have a very positive effect,’ says the report, referring to the US Securities and Exchange Commission (SEC) being given more power to regulate the crypto space.

The post Mai Capital Forecasts Rough Year for Crypto appeared first on Cryptoknowmics-Crypto News and Media Platform.

Mai Capital Forecasts Rough Year for Crypto

Chris Grisanti of Mai Capital Management spoke with CNBC on Thursday about his expectations for the cryptocurrency sector. Grisanti, a CFA, is the chief equities strategist and regional president of Mai Capital Management, a wealth management organization that offers financial planning and investing advice. It’s worth noting that cryptocurrency is nearly 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 all over the place — from China, from Europe, and here in the United States.” Despite this, the stock strategist believes that some cryptocurrencies will outperform.  “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. The strategist particularized: “Once regulations are in place, institutional investors, I think, will get more comfortable treating bitcoin not as a currency but like gold, which is a hedge against inflation and other things.” Institutional investors are also bullish about further regulation coming to the crypto market, according to a recent survey by Nickel Digital Asset Management, a regulated European digital asset hedge fund manager. ’73 percent of institutional investors and wealth managers believe this will have a positive impact on the price of crypto and digital assets, and 32 percent believe it will have a very positive effect,’ says the report, referring to the US Securities and Exchange Commission (SEC) being given more power to regulate the crypto space.

The post Mai Capital Forecasts Rough Year for Crypto appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Source: https://www.cryptoknowmics.com/news/mai-capital-forecasts-rough-year-for-crypto/

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