Lark Davis Predicts Massive Crypto Bull Run on Horizon – Here’s Why
The post Lark Davis Predicts Massive Crypto Bull Run on Horizon – Here’s Why appeared first on Coinpedia Fintech News
Popular crypto analyst Lark Davis, who has been around for several bull markets, has issued a bold prediction that a face-melting bull run is on the horizon. The crypto analyst believes the crypto industry is well positioned to rally further in the near term, mostly fueled by institutional investors.
Furthermore, the available spot Bitcoin exchange-traded funds (ETFs) have registered tremendous cash inflows in the past few weeks. Additionally, on-chain data shows crypto whales have increased their accumulation pace in preparation for a major bullish uproar.
For instance, Dogecoin’s whale transactions exceeding $1 million have spiked by over 150 in the past 24 hours. Additionally, Franklin Templeton has considered a major investment push toward the altcoin industry.
Why to Buy Crypto Now?
The popular crypto analyst believes more institutions, wealth managers, and pension funds globally are all lining up to follow the same path as MicroStrategy. As of this report, MicroStrategy held over 1 percent of Bitcoin’s total supply at about 214,400 coins.
MicroStrategy’s success has attracted other companies, such as Semler Scientific, which plans to raise $150 million to buy more Bitcoins. Semler Scientific has already purchased $17 million worth of Bitcoins in recent years.
Remarkably, spot Bitcoin ETF issuers have purchased 56,150 BTCs in the past two weeks, equivalent to over four months of miners’ supply.
Combined with the fact that the European market and Canada have already initiated interest rate cuts, more than a month since the fourth Bitcoin halving, Davis is confident of a super cycle ahead.
Also Read: Bitcoin (BTC) Price Eyes All-Time High By June 12th – Here’s Why
