Money Managers: Bitcoin and Altcoins May See Selloff On This Date!

0

Bitcoin and altcoin markets are experiencing a major correction after the mega bull rally at the beginning of the year. However, since even 50% corrections are considered normal, some consider the lows as buying opportunities. Now, according to senior money managers, the crypto market may be ripe for a big sell-off in 2022. Here are the predicted dates for the “selloff” season…

Institutional investor expects correction in Bitcoin and altcoin market in 2022

According to the survey by Natixis Investment Managers, cryptocurrencies are currently the “biggest contender” for a “big fix” in 2022. Almost three-quarters of institutions surveyed stated that cryptocurrencies are not viable investment options for individual investors. However, 40% of the institutions surveyed also accept cryptocurrencies as a legitimate investment option. They believe it should be regulated at the same time.

In the report, which we quoted as Kriptokoin.com, it was also stated that institutional investors participated in the crypto market in large quantities. Of the total institutions surveyed by Natixis, 28 percent have already invested in crypto. Also, one-third said they plan to increase their crypto portfolios next year. Institutional players rely on the inflation hedge function of cryptocurrencies, but it should be noted that the market largely follows movements in global equity markets.

David Solomon thinks the cryptocurrency market will stagnate

Goldman Sachs CEO David Solomon told CNBC that he does not expect the same returns in stocks in the coming years. Solomon adds:

We hope that in the next few years we will not see the same rate of return that we have seen in stocks and many other assets over the past few years. A number of investment committees and charitable foundations, college boards, etc. I’ve been interested in, and it’s definitely my mindset that the returns we’ve had over the last three to five years have been different from what we should expect as we move forward.

 

For these reasons, David Solomon thinks that the cryptocurrency market will move sideways for a very long time, as seen in the 2018-2020 period.