According to the CEO of One River Digital Asset Management, Eric Pierce, the fall of the cryptocurrency market is temporary.
In the medium term, Bitcoin and other virtual currencies still have chances for 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 the innovative instrument.
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 change in trend. 2022 was a repeat of the stock market 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 shocks of the late 20s of the last century, Pierce emphasized.
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 if traders become more active.
As soon as institutional investors from the US, Europe and Canada begin to massively enter digital assets, the market will immediately turn into a bullish phase, the CEO of One River believes.
