The crypto market is at present dealing with important strain, largely on account of US President Donald Trump’s commerce battle and deteriorating macroeconomic circumstances. These elements have put markets below pressure, with some analysts predicting that the bull run is over and a bear market could also be on the horizon.

In a latest Cointelegraph interview, Kevin O’Leary, also referred to as “Mr. Wonderful,” shared his ideas on the present state of the market and what could possibly be forward. Despite the turbulence, O’Leary stays optimistic about the way forward for Bitcoin (BTC). He explains that whereas the market is below strain, he nonetheless expects Bitcoin to finish the yr greater as a few key elements come into play.

A key situation mentioned within the interview is the necessity for regulatory readability, particularly surrounding stablecoins. O’Leary is especially targeted on the GENIUS Act, which he believes might be handed imminently by the US Congress. “We have been waiting for almost seven years for this legislation. I have a feeling it’s going to make it, and when that happens, it’s a game changer,” O’Leary mentioned.

The passage of the GENIUS Act, which goals to supply regulatory readability round stablecoins, ought to enhance the adoption of dollar-backed stablecoins. This transfer is predicted to convey much-needed stability and legitimacy to the crypto market, serving to to mitigate among the ongoing dangers. O’Leary additionally shared insights into his private crypto portfolio, revealing a diversified mixture of property in his portfolio.

To dive deeper into O’Leary’s views on the present state of the crypto market and his private method to investing in crypto, make sure that to watch the full interview on our channel.

Related: Trump says US will be ‘Bitcoin superpower’ as BTC price breaks 4-month downtrend

Read MoreCointelegraph.com News