Eric Peters – CEO of One River Digital Asset Management – thinks the next crypto bull run will be “very powerful” because it will be driven by institutional adoption.
He argued the market might have already moved to such a phase.
‘Extremely Bullish’ for the Long Term
In a recent appearance on the Bankless podcast, Peters opined that the crypto winter is already in the past, describing last year’s decline to the Wall Street collapse of 1929 (also known as the Great Crash):
“I am grateful that we have navigated this bear market, and it really was kind of 1929 market crash environment.”
Eric Peters, Source: LinkedInOne River’s exec said he is “extremely bullish” for the medium to long term, believing major institutions will take part in the next cycle:
“I think the next phase will be very powerful because it actually will finally have real institutional adoption.”
Peters suggested the bull run might have begun, outlining the market surge since the beginning of the year. Bitcoin finished 2022 at around $16,500, while as of the moment, it trades at approximately $22,400 (a 35 increase). It even spiked to $25K in February, a valuation last registered in June of 2022.
