The expert predicts that the main crypto coin will rise in price after the elections to the US Congress

Shark Tank host Kevin O’Leary believes that the price of the first digital coin will rise after the adoption of the cryptocurrency regulation law. The expert believes that this will happen after the midterm elections to Congress in early November.

This is about a bill that has previously received the support of many legislators, as by default it makes the US dollar the international payment currency.

“While this does not affect bitcoin, this will be the first law passed by US regulators regarding crypto assets. Institutional investors will show great interest in stablecoins and will pour their capital into them. Therefore, I would say that many will want to buy bitcoin now for long-term storage in order to wait for this result. Cryptocurrencies cannot be stopped. You either join the wave or get lost in it,” O’Leary said.

The expert said that the regulation of stablecoins would have a positive impact on the confidence of large investors in the industry. Thanks to this, bitcoin will be able to get out of the $19,000-$20,000 price range.

The TV presenter expressed confidence that over the next 10 years, digital currencies would become the 12th sector of the S&P 500 index, due to the fact that financial market players will use the latest technologies by this time.

“We lack clear regulation. Once regulators take control of cryptocurrencies, the sector will be flooded with capital like you’ve never seen before. There are people who criticize me for being a firm believer in the future of cryptocurrencies. But with the latest technologies that can improve and speed up transaction processing worldwide, you simply have no choice but to put up with it,” O’Leary emphasized.

And the head of the Office of the Comptroller of the Currency, Michael Hsu, on the contrary, expressed concern that politicians are devoting “too much time to cryptocurrency” rather than more relevant areas, such as banking and fintech technologies. Earlier, the official called the crypto industry “an industry based on immature technologies.”

Co-founder of the ENCRY Foundation Roman Nekrasov, analyzing the possible movements of bitcoin in the near future, believes that the volatility of the main cryptocurrency may be high on the eve of the Fed meeting. It is expected that the regulator may decide to raise the key rate by 0.75 percentage points.

What do you think about it?