One River CEO: Bitcoin retains potential for a new breakthrough

According to Eric Peters, CEO of One River Digital Asset Management, the decline in the cryptocurrency market is temporary.

In the medium term, bitcoin and other virtual currencies still have a chance of a rebound. Moreover, the new bullish phase may be more aggressive than the previous one.

The main driver of the rally will be the accelerating institutional adoption of an innovative tool.

Moreover, the head of the company did not rule out that the market has already reached the bottom, and now we are waiting for a gradual trend change. The year 2022 was a repeat of the stock crisis of 1929, which went down in history as the Great Depression.

We have gone through a difficult period, which turned out to be comparable to the scale of the upheavals of the late 20s of the last century, Peters stressed.

He also recalled that already in February, BTC briefly broke above $ 25,000. The subsequent pullback is corrective in nature, but the coin should quickly restore positions in case of activation of traders.

As soon as institutional investors from the United States, Europe and Canada begin to enter digital assets en masse, the market will immediately be in a bullish phase, the CEO of One River believes.