While Bitcoin (BTC) soars to new all-time highs near $118K, the CEO of Xapo Bank, Seamus Rocca, warns that crypto investors shouldn’t assume the bull market will last forever. In a new interview with Cointelegraph, Rocca asserts that Bitcoin’s classic four-year cycle of highs followed by deep corrections is still intact, despite growing institutional participation.
“We all want to think that Bitcoin is an inflation hedge — and I believe that one day it will be — but for now, it still behaves like a risk-on asset,” Rocca said.
No Black Swan Needed: The Next Bear Could Be Organic
Contrary to the belief that market crashes are always caused by external shocks like bankruptcies or regulations, Rocca says the next crypto downturn could occur organically — from something as mundane as a lack of bullish news or routine portfolio rebalancing by investors.
“The contagion effect could be as simple as there’s no new news in the market,” he noted.
This slow fizzle, he explained, could gradually drain momentum from the market, without a single catastrophic event.
Institutional Money ≠ Market Immunity
While many claim that the presence of major institutions like BlackRock, Fidelity, and others in spot Bitcoin ETFs has made crypto markets more resilient, Rocca disagrees.
“I’m not sure I agree with the view that the Bitcoin cycle is over just because institutions are here,” Rocca stated, echoing views from Bitcoin author Aleksandar Svetski and analyst Matthew Kratter.
Historical data supports his caution: Bitcoin’s past cycles in 2013, 2017, and 2021 all saw steep corrections, often over 70%, after euphoric highs.
TL;DR — Don’t Bet Against History
Bitcoin’s 4-year cycle of boom and bust is still relevant, says Xapo’s CEO.
The next bear market may not need a trigger event — it could emerge from stagnation.
Institutional participation is not a silver bullet to eliminate volatility.
BTC still trades more like tech stocks than a true inflation hedge.
Investors take note: While it’s tempting to believe “this time is different,” Rocca’s message is clear — history might still rhyme.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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