Analyst warns of a multi-year crypto bear market

Jacob King, an analyst at WhaleWire, issued a warning about the trajectory of Bitcoin and the broader crypto market.

In an article onKing highlighted key developments that he believes could trigger a prolonged bear market.

The king emphasized MicroStrategy decrease in Bitcoin (BTC), El Salvador’s apparent abandonment of its Bitcoin-focused policies and significant sales of BTC holdings by BlackRock as critical warning signs for investors.

In the past, King has frequently called MicroStrategy’s Bitcoin-focused business model a “giant scam,” arguing that it’s not sustainable and destined for collapse.

He also noted that Tether (USDT), a leading stablecoin issuer, has suspended all new minting activity for more than 20 days, a period that coincides with the recent stagnation in Bitcoin prices.

“The calm before the storm,” King said, warning that the potential downturn in the crypto market could coincide with a broader stock market crash. He attributed the current market optimism to “greed” and advised investors to reassess their risks before maintaining their positions.

King’s criticism comes as Bitcoin trades at $98,387.00.