Lark Davis Excites Community With Big Bitcoin Rally Prediction

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As a researcher with a background in cryptocurrencies and market trends, I find Lark Davies’ prediction of an imminent bull run for Bitcoin quite intriguing. His analysis of several factors that could potentially drive the crypto market to new heights aligns with my own observations.

Famous businessman and Bitcoin investor Lark Davies made an exhilarating prediction about an upcoming bullish trend for Bitcoin. This prediction was shared during a surge in the broader crypto market, causing Bitcoin’s price to soar above $71,000.

Here’s why bull run is possible 

According to Davies, there are several reasons why the cryptocurrency market may experience a bull run soon. One significant factor is the growing investment from US investors following the approval of Bitcoin ETFs.

Over the past 18 days, I’ve uncovered some intriguing information about Davies’ ETF purchases. Specifically, he revealed that they acquired approximately 56,150 Bitcoin. This represents more than a four-month worth of Bitcoin for them. Furthermore, as a seasoned investor, Davies holds a strong conviction that the upcoming Ethereum spot ETF launch could significantly impact the market.

“Ethereum ETFs are about to start trading soon,” Davies opined.

Additionally, Davies noted that the steady acquisition of Bitcoin by institutions such as MicroStrategy, Block, and Semler Scientific might have an impact on Bitcoin’s price trend in the future.

A face-melting bull run is about to hit us.

Here’s why:…

— Lark Davis (@TheCryptoLark) June 7, 2024

As an analyst, I’ve observed a significant trend: institutions, wealth managers, and pension funds from around the globe are expressing strong interest in acquiring Bitcoin. In my opinion, this bull market could surprise us with its intensity.

Currently, Bitcoin is priced at $71,456 according to recent reports, marking a 0.27% gain over the past 24 hours. The trading volume has risen significantly by approximately 14.5%, surpassing the $30 billion threshold.

Mixed sentiment on spot ETH ETF approval 

There seems to be varying opinions on the SEC’s approval of spot Ethereum ETFs. According to Jan van Eck, CEO of VanEck, this approval signifies a significant turning point in history. As previously reported by U.Today, VanEck is one of several applicants who have secured approvals from the SEC.

In a opposing viewpoint, JPMorgan, a well-known banking behemoth, predicts that Ethereum ETFs might draw in fewer assets than anticipated upon their launch. The bank estimates that $3 billion will flow into the Ethereum products this year. However, if staking is permitted, JPMorgan believes this figure could potentially be doubled.

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2024-06-07 18:20