#BTCWhalesMoveToETH Bitcoin bear market likely years away, according to David Bailey

David Bailey, cryptocurrency advisor to Trump, said there will not be a Bitcoin bear market for several years, but analysts are not so sure.

Bitcoin bear market likely years away, according to David Bailey

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David Bailey, entrepreneur and Bitcoin advisor to US President Donald Trump, said there will not be another Bitcoin bear market for several years amid growing institutional interest in the cryptocurrency market.

But the four-year cycle says otherwise, and cryptocurrency analysts told Cointelegraph that there are more than a few adverse factors that could bring down the markets.

“This is the first time we have seen true institutional acceptance,” Bailey said in an X post on Saturday.

“Every sovereign state, bank, insurer, corporation, pension fund, and more will own Bitcoin. The process has already begun in earnest, but we haven't even captured 0.01% of the total addressable market (TAM). We are going much higher. Dream big,” he added.

He said that previous institutional interest was just “outliers with marginal bets.”

Bailey, founder of Bitcoin Magazine and BTC Inc., served as an advisor during Trump's presidential campaign and is recognized as a central figure in the president's pivot to Bitcoin.