Some of the leading experts in blockchain, cryptocurrency, and artificial intelligence gathered at the Hack Seasons Conference in Bangkok to discuss the sector’s current situation. The majority of experts agreed that we are solidly in a bull market, with Bitcoin surpassing $90,000, the cryptocurrency market value surpassing $3 trillion, and a wave of confidence driven by technological and political changes.
An Upsurge in Excitation
Speakers generally agreed that the cryptocurrency market has entered a very bullish phase. The founder and CEO of Theoriq, Ron Bodkin, described this as a period of “renewed excitement” in both AI and cryptocurrency, pointing out the groundbreaking potential of blockchain applications in conjunction with AI agents. “This intersection has never been hotter,” he said. The rise of innovative tools and clarity on regulations have reinvigorated the industry, making this an exciting time for builders and investors alike.
Similarly, Alan Chiu, Co-founder of Boba Network, described the current conditions as “one of the healthiest parts of the market cycle.” He emphasized that builders are thriving, mainstream interest is growing, and new innovations are being productized daily.
For Shahaf Bar-Geffen, CEO of COTI, the current market is on the “brink of a bull cycle.” While noting that retail investors are not fully engaged yet, he saw this as a strength. “The retail market still being early means there’s significant potential for growth,” he said. Bar-Geffen emphasized that builders in the space don’t rely on market conditions. “You don’t build for bull or bear markets—you just build,” he said, adding that the community is always creating value regardless of cycles.
The Role of Political and Economic Catalysts
Political developments were frequently cited as major drivers of the current market surge. Yannik Schrade, Co-founder and CEO of Arcium pointed out that the optimism is largely political, noting, “Recent weeks haven’t delivered groundbreaking technological shifts, but the belief that governments and enterprises are ready to adopt these technologies is energizing the market.”
Several speakers singled out Donald Trump’s re-election, known for his crypto-friendly stance, as a game-changer. Ran Yi, Co-founder of Orderly Network, referred to this moment as a trigger for the second leg of the bull market, adding, “With Elon Musk working alongside the administration, the sentiment is overwhelmingly positive.” Sonic Labs’ Seg agreed with this view, calling the election results a “tangible shift” that has created favorable conditions globally.
Economic factors, including lower interest rate expectations and increased government liquidity, are also bolstering the market. Marcus Le, Core Contributor of Viction, highlighted these macroeconomic shifts, noting how they align with builders’ efforts to create valuable applications in gaming and finance. “We’ve been riding through the bear market for years, and now we’re seeing solutions drive real adoption,” he said.
AV, CMO of Electra, expressed enthusiasm about the current market dynamics. He highlighted the gains made by decentralized exchanges. “We’ve entered a truly bullish stage, and this is a game-changer,” he said. AV attributed the surge to political developments like Trump’s election and the resulting confidence in the market.
A Mature and Growing Market
The maturity of the crypto market was a recurring theme. Wali Khan, Co-founder of Aylab, emphasized that reliable applications and actual users are entering the space, which indicates a sustained bull market. “It’s no longer just speculation; the market is maturing,” he noted.
Andrew Saunders, CGMO at SKALE, pointed out that institutional investors are leading the charge. “The lack of regulatory clarity had kept institutions on the sidelines, but now we’re seeing a lot of capital flow in,” he said, adding that retail adoption is starting to follow.
Bitcoin Leads, But Altcoins Lag
While Bitcoin’s rise to nearly $100,000 has made headlines, several speakers noted that other cryptocurrencies have yet to catch up. Tom Trowbridge, Co-founder of Fluence, observed, “Bitcoin is exceeding all-time highs, but altcoins are still lagging. That shift will take time, likely early next year, when broader market conditions improve.”
This disparity, however, may be a hidden opportunity. Chloe Phung, Co-founder and Co-CEO of U2U Network, pointed to the Bitcoin halving and the approval of Bitcoin ETFs as factors that eventually lifted the entire market. “This bull run is setting the stage for mass adoption, and the whole industry stands to benefit,” she said.
Despite the excitement of a bull market, speakers stressed the importance of building through all market cycles. Shahaf Bar-Geffen reminded attendees that innovation happens regardless of market sentiment. “You don’t stop building in a bear market, and you don’t build only for a bull market,” he said.
This was supported by James Ross Croyle, CEO of MetaHub, who said, “The groundwork for this bull market was laid during the bear market. Every four years, we see the same cycle, and this one is no different. Builders keep innovating, and the rewards follow.”
The outlook for the coming months is overwhelmingly positive. Natalie Leung, General Manager of BuzzUp, summed up the sentiment: “This is a bull market, and we’re just getting started. With Bitcoin hitting $90,000 and more users joining Web3, the future is incredibly bright.”
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