The chances are high that any crypto investor or trader who is familiar with the social media cryptospace would have come across Lark Davis, a renowed New Zealand-based crypto analyst and investor, who recently predicted, to use his own words, that this altseason will be way crazier than 2017.
In a recent chain of tweets which was delivered before his about 250,000 followers, Davis gave some reasons why he feels that the altseason that would accompany Bitcoin's top will be greater than what was seen in the last bull cycle of 2017. Although he gave a number of reasons, the following are some of the most important points.
1. The Altcoin Market Is No Longer About Only Ethereum
The renowed crypto analyst believes that one of the reasons why this year's altseason will be bigger is because there are now several smart contact blockchains will real and passionate users. This is contrary to what was obtainable 2017 when the altcoin market was essentially about Ethereum. These real life users, Davis implies, will play a major role in the forthcoming altseason. These are his words:
There are now multiple blockchains running smart contracts applications that actually have users. 2017 was basically all about #Ethereum.
2. The Involvement Of Fiat Processing Platforms In Crypto
On this point, Davis opines that the involvement of fiat processing platforms such as PayPal, Cashapp, Robinhood, etc makes it easier for crypto to be delivered to the doorsteps of retail investors. This has the potential of easily allowing money to flow into the crypto market unlike what was available in 2017. Here is how he puts it:
There have never been so many fiat on ramps. Cashapp, Paypal, Robinhood, and all the crypto native exchanges. It has never been easier for retail to enter the market.
3. The Massive Upward Move Of Dogecoin In The Past Few Months
The crypto expert believes that the upward movement of Dogecoin is only a testament of what is to come. It shows that there is plenty of money lurking around to flow into the crypto market. Given that Doge has in the past preceeded an epic altseason, history can repeat - massively this time around. This is Davis' tweet:
#dogecoin shows that a lot of new money is flooding the market. Clear altcoin insanity indicator.
4. Bitcoin ETFs
On this fourth point, Lark Davis believes that Bitcoin ETFs are coming to the United States which is capable of bringing more institutional money into the crypto market. This has the potential of first sending the price of Bitcoin to the moon before shooting up altcoins. You can find his tweet below:
Bitcoin ETFs are coming to the USA. This will pump the entire market. Altcoins will have their final orgasmic blow off top when Bitcoin tops. The higher BTC goes the bigger the altcoin blow off top.
5. VC Fund And Institutional Money
VC fund and Institutional money were quite absent in the 2017 altseason but we have them now in this cycle. In short, there is plenty of money only waiting to enter the market once everything heats up. These formal funds, Davis believes, will have significant effects on the forthcoming altseason.
VC money and institutional money are flooding the market. AZ16 just launched a billion dollar #crypto fund. Companies, family, offices, and funds buying altcoins already.
The extent to which Lark Davis' predictions will be accurate or not is clearly a matter of time. But the recent surge in the price of Doge coin and Ethereum classic might be an indication of what is to come.
Posted Using LeoFinance Beta
Only by looking at DOGE chart and one can see where we're heading. It has a typical bull market one so far.
Posted Using LeoFinance Beta