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

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Thu, 01/06/2022 - 20:19
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Alex Dovbnya
MAI Capital's Chris Grisanti expects crypto to underperform in 2022
2022 Could Be Tough Year for Crypto, Says MAI Capital's Chris Grisanti
Cover image via U.Today

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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.

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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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.