CITIC Securities: It is expected that cryptocurrencies will benefit from the monetization brought about by anti globalization and de dollarization in the medium and long term

According to a report by Jinshi, CITIC Securities Research Report stated that cryptocurrencies have good privacy and anti inflation properties, have grown rapidly since their inception, and are gradually being regularized as assets. With the expansion of the demand for cryptocurrencies, a pattern of speculative pricing similar to gold has emerged as a bottom line for demand support. However, in the short term, due to insufficient monetization and high risk appetite of marginal price setters, cryptocurrencies are actually more speculative. In the medium to long term, it is expected that both cryptocurrencies and gold will benefit from the monetization brought about by anti globalization and de dollarization. The 'future gold' may not necessarily include Bitcoin, but there is a high probability of cryptocurrency. Cryptocurrencies are expected to benefit from possible regulatory easing during Trump's presidency in the short term, but we need to wait for certainty in trade and foreign policy.