Blomberg: regulation of cryptocurrencies will increase investor interest in them

Blomberg: regulation of cryptocurrencies will increase investor interest in them

88
Subscribe
Regulation of the cryptocurrency market will increase investor interest in this asset class, Blоmberg reports, citing the latest survey of professional investors by MLIV Pulse. Aggressive actions by the U.S. Securities and Exchange Commission (SEC) and other regulators are having a positive effect on the industry, as large market participants said they were more likely to invest in cryptocurrencies after the tightening of regulations in this area, according to the article.

Nearly 60% of the 564 respondents said they believe the recent wave of lawsuits related to cryptocurrencies is a positive sign for the market. Professional investors said regulation of digital currencies opens up more opportunities for big players to invest in them. About 43% of survey participants said they would increase their exposure to digital assets in the next 12 months.

About a third of investors said they believe Ethereum's market value could exceed that of bitcoin in the next two years. Another roughly 42% believe they believe cryptocurrencies' correlation with technology stocks will remain unchanged over the next 12 months.


Nearly half of investors expect bitcoin to continue trading in the $17,600 to $25,000 range for the rest of this year. By comparison, in July, most of those surveyed said that bitcoin was likely to first fall to $10,000 and then rise to $30,000.

Market participants also showed a very wide range of opinions about the cryptocurrency. The top responses to a question "what is one word to describe the industry?" were almost equal parts "Ponzi" (creator of one of the first financial pyramid schemes in history, which is called Ponzi scheme in English) and "future".

Other news

Binance CEO Explains the Uniqueness of the Upcoming Bitcoin Halving
CryptoQuant reported record accumulation of bitcoins ahead of the halving.
We've sold everything. Expert names reasons for crypto market downturn
The losses of miners after the halving were estimated at $10 billion. Where does this figure come from?
Robert Kiyosaki cited reasons for not investing in Bitcoin via ETF.
Chapter Hut 8 CEO Discusses Banks' Interest in Buying Bitcoin from Miners
Trustpilot