Alex Dovbnya<\/p>\n
Canadian businessman Kevin O'Leary is convinced that Bitcoin is not going anywhere without regulatory clarity <\/p>\n
Canadian businessman Kevin O'Leary, who is best known for co-hosting the hit TV show Shark Tank, has opined that Bitcoin will struggle to reclaim the $22,000 level without regulatory clarity. <\/p>\n
Mr. Wonderful is convinced that not a single sovereign wealth fund will move against the U.S. Securities and Exchange Commission (SEC). <\/p>\n
The price of the worlds largest cryptocurrency peaked at more than $69,000 in late November, but it has since retraced to as low as $17,600 in July.<\/p>\n
The flagship coin is currently sitting at $19,412 after failing to hold the pivotal $20,000 level.<\/p>\n
Ads<\/p>\n
It is worth noting that Bitcoin did manage to hit the $22,000 level on Sept. 22, but its bullish momentum didnt have legs. The rally was followed by a brutal sell-off that occurred the following day.<\/p>\n
In February, O'Leary said that Bitcoin would need to win over wealth and pension funds in order to be able to eventually reach the $300,000 level. The investor has repeatedly stated that crypto was yet to reach any semblance of institutional adoption.<\/p>\n
Back then, he predicted that the cryptocurrency industry would be able to achieve regulatory clarity within the following two or three years. <\/p>\n
Industry leaders have been clamoring for clear cryptocurrency rules for a long period of time.<\/p>\n
In a recent interview with Yahoo Finance, Binance CEO Changpeng Zhao claims that clear cryptocurrency rules will help to ease adoption since it will attract more mainstream users.<\/p>\n
<\/p>\n