"Everyone has different views, what about you?"
Eric Peters, Chief Executive Officer (CEO) of One River Digital Asset Management believes that the cryptocurrency market will move into a bullish phase in the near term, driven by institutional acceptance factors.
Appearing on the Bankless podcast, Peter said that crypto's fall season has already passed, where he compared last year's decline to the Wall Street crash of 1929 or better known as the Great Crash.
He added that he is convinced that the price of digital assets has the potential to climb higher if various institutions participate in the crypto market.
However, one of the factors preventing institutions from participating in the crypto ecosystem is regulatory uncertainty.
Therefore, the United States (US), Europe or Canada should impose the right regulations so that industrial capital flows into the crypto market while financial companies can integrate blockchain technology in their operations.
Peters believes the bullish price for the crypto may have started after outlining the market surge since earlier this year that saw Bitcoin (BTC) end 2022 at $16,000 but is currently trading at $22,038.
In general, Peter concluded that investors facing losses during the crypto market crash of 2022 not only benefited in the long term but also understood how the economy works.
In the meantime, Coinbase which acquired One River Digital Asset Management a few days ago without disclosing the terms and amount of the deal has named it Coinbase Asset Management but Peter will continue to serve as CEO and Chief Information Officer (ICO).
