FinTech and Crypto Lead of PricewaterhouseCoopers for Hong Kong and China, Henri Arslanian, believes that the cryptocurrency market will witness improvement in 2019.
What did the PwC Fintech Lead Say?
During an interview with Bloomberg TV, Henri Arslanian said:
“In 2018, we saw a lot of the big players entering the space. In 2019, I expect even more players to enter into the sector as well, especially in different ways. Some of them may decide to launch their solutions, others may look to partner with crypto firms, and others might look to invest in crypto companies.”
He stressed upon the need of institutional investment in the cryptocurrency market. Henri said the crypto industry needs the required expertise and institutional backing. The institutional investors are already late in entering this space. However, he believes the scenario will change for the better next year.
Arslanian argued that:
“I think a lot of things are changing on a global level. For example, take a look at regulatory clarity in 2018, a number of jurisdictions provided more regulatory clarity than we had before….. I expect more of this to happen in 2019, and that will give even more comfort to institutional investors and players as well”
Are Henri Arslanian’s Views Similar to Many Other Stalwarts of the Industry?
The high expectation of FinTech and Crypto Lead of PricewaterhouseCoopers for Hong Kong and China are significantly similar to the sentiments of Binance CEO Changpeng Zhao. Zhao reportedly said that they are all set to start the New Year in a bullish manner.
During an interview with hosts of the show (Tracy Alloway and Yousef Gamal El-Din) told “Bloomberg Daybreak: Middle East” that:
“2018 has been a tough year in terms of pricing for the cryptocurrency. And we see a lot of projects not making it this year, so it’s a correction year. But technology will stay, and we wanna kick off 2019 with a bang… So I think the people in the industry are still very confident about the future. So there are no worries about that.”
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