The cryptocurrency advisor to President Trump and founder of Bitcoin Magazine, David Bailey, stated that there will not be another bear market of #Bitcoin for several years. He cited unprecedented institutional adoption as the main driver of this outlook.

Bailey emphasized that this is the first time genuine institutional acceptance is being observed, rather than marginal bets from atypical groups. He predicts that governments, banks, insurers, companies, and pension funds will accumulate Bitcoin, noting that current adoption represents less than 0.01% of the total addressable market.