2022 Could Be Tough Year for Crypto, Says MAI Capital’s Chris Grisanti

Analysis2022 Could Be Tough Year for Crypto, Says MAI...



Alex Dovbnya

MAI Capital’s Chris Grisanti expects crypto to underperform in 2022

In a recent interview on CNBC’s “The Exchange,” Chris Grisanti, chief equity strategist at MAI Capital Management, opined that 2022 would likely be a tougher year for crypto.

Grisanti claims that the new asset class will likely become the victim of its own success, predicting that various countries throughout the globe will step up their regulatory game:

There will be calls for regulations from all over the place (from China, from Europe, here in the U.S.).

He expects altcoins to take the worst beating, claiming that Bitcoin and Ethereum, the two biggest cryptocurrencies, will be able to weather a possible regulatory onslaught.

Grisanti says that Bitcoin will actually benefit from regulations because institutions will grow more comfortable with the idea of adding “digital gold” to their portfolios.

The analyst is also bullish on the Amazon (AMZN) stock despite the ongoing tech carnage.
  
The flagship cryptocurrency is currently trading at $43,472 on Bitstamp after a small relief rally. Earlier today, it dropped to a new yearly low of $42,414.

As reported by U.Today, Galaxy Digital CEO Mike Novogratz opined that Bitcoin would find the bottom of the ongoing correction at $38,000.





Learn more

Latest news

Meta Stock Jumps On $40 Billion Buyback| Investor’s Business Daily

Facebook owner Meta Platforms (META) reported fourth-quarter results late Wednesday that beat on revenue as the company struggles...

How Businesses Benefit When Employees Earn College Degrees

Irma Becerra is president of Marymount University, a comprehensive doctoral-granting university known for its innovative curriculum. From climate change...

dYdX (DYDX) up 15% as Trading Volume Doubles, Here’s Why

Decentralized exchange platform dYdX (DYDX) is seeing a major price rejuvenation today as it is up 15.23% at the...

Fed raises key interest rate by 0.25 points, slowing pace of hikes

The Federal Reserve enacted its smallest interest rate hike in nearly a year on Wednesday — but signaled...

Meta Platforms Q4 profit drops 55%

Mark Zuckerberg’s Meta Platforms on Wednesday reported a 55% fall in quarterly profit, hurt by a hefty charge related...

Must read

Meta Stock Jumps On $40 Billion Buyback| Investor’s Business Daily

Facebook owner Meta Platforms (META) reported fourth-quarter results...

How Businesses Benefit When Employees Earn College Degrees

Irma Becerra is president of Marymount University, a...

dYdX (DYDX) up 15% as Trading Volume Doubles, Here’s Why

Decentralized exchange platform dYdX (DYDX) is seeing a major...

You might also likeRELATED
Recommended to you