Cryptocurrency analyst Lark Davis He predicted this recently That's bull run It can be more massive than most people imagine. Explain why this is Market cycle It can stand out from its predecessors.
Why This Bull Race Will Be 'Face-Melting'
Davis mentioned in an X (formerly Twitter) mail Cryptocurrency market participants are about to witness a “bullish wave that will melt their faces.” He cited the influence of institutional investors as the reason behind the emergence of this upward trend. For example, notice how Bitcoin ETFs in the US It has already recorded hundreds of millions of daily streams.
Related reading
Thanks to the huge demand for these funds, Davis highlighted this Fund issuers You have purchased 56,150 Bitcoin in the last 18 days of trading. He claims that this amount of Bitcoin represents a four-month supply being injected into the ecosystem by Bitcoin miners. These fund issuers are not limited to institutions that buy major cryptocurrencies.
Davis also noted that companies like MicroStrategy, Block, and Semler Scientific have continued to accumulate Bitcoin. The analyst also claimed that wealth managers and pension funds around the world are “lining up” to invest in Bitcoin. Meanwhile, Davis also pointed out Ethereum ETFs And the huge impact you can have in this market cycle.
Spot Ethereum ETFs are expected to see massive inflows once trading begins. JP Morgan pridect These funds could see inflows of $1 billion to $3 billion Cryptocurrency research company K33 Research It expects these funds to witness inflows of up to $4 billion in the first five months of trading.
Cryptoanalysts love Michael van de Poppe They also expressed their bullish sentiment on Spot Ethereum ETFs, anticipating that these ETFs could be a catalyst for the continuation of the uptrend. Specifically, they are pridect Spot Ethereum ETFs could kick off altcoin season, as Ethereum and other altcoins see big moves.
Other factors that could positively impact this race
Following Davis's post, cryptocurrency analyst Patrick the summary Other factors that could positively impact this upward trend. First, the analyst mentioned interest rate cuts and noted that the Canadian and European central banks have already cut interest rates. He believes the United States will do so It will likely follow suit very soon.
Related reading
Second, Patrick noted that the Federal Treasury bond repurchase program has begun. This development, along with interest rate cuts, is expected to lead to… quantitative easing (QE), Which may enhance investors' confidence in investing in risky assets such as Bitcoin and other cryptocurrencies. Finally, the analyst noted that this is an election year, with the US presidential election scheduled for November.
Republican presidential candidate Donald Trump also provided a much-needed boost to the market through… Confirming His pro-encryption stance. Accordingly, Standard Chartered Bank pridect Bitcoin could rise to $150,000 this year if Trump wins.
Featured image created with Dall.E, chart from Tradingview.com