Forecast for Bitcoin Breaking 50 Thousand Dollars: We Are At These Levels in December! - News-Credit-Mortgage-Coin


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Tuesday, August 24, 2021

Forecast for Bitcoin Breaking 50 Thousand Dollars: We Are At These Levels in December!

 In a recent video posted on YouTube, crypto analyst Lark Davis talked about Bitcoin hitting over $50,000. Describing the new BTC value as "a good thing", the analyst makes a technical price prediction in a video published on August 23. He adds that Bitcoin will close above $50,000 at the end of the day.

Crypto analyst Lark Davis claims that BTC will reach 6-digit numbers

According to crypto analyst Lark Davis, the $50,000 price level is a psychological sign for Bitcoin and many investors are looking forward to Bitcoin (BTC) reaching its price level. He adds that the current price of Bitcoin is in an important position in terms of price resistance. In addition, the crypto analyst points out that the bulls' reaction to Bitcoin is $50,000. He notes that many investors are not selling their crypto holdings for now. This shows that crypto owners are optimistic about the price of Bitcoin going up.

Lark Davis says crypto miners and major wallet addresses are hoarding cryptocurrencies. Although Lark Davis states that he may not be optimistic enough about Bitcoin, the analyst is sure that BTC will reach 6 digits. The analyst expresses his opinion as follows:

Everyone wants to see the price go up. If you really think Bitcoin will hit the six digits, why are you selling now?

Lark Davis: I'm pretty sure we'll see Bitcoin price above hundreds of thousands of dollars

Lark Davis talks about the last 700 percent increase Bitcoin has collected over the “200-day moving average”. Prior to that, Bitcoin recorded a 200-day moving average in April last year. At that time, BTC saw more than 718 percent gains. Now, the crypto analyst predicts that Bitcoin could rise up to 300 percent in late 2021 or early 2022.

Additionally, Lark Davis talks about how a 300 percent rally would pump up Bitcoin market capitalization. Currently, over $942 billion, Bitcoin will reach $4.5 trillion to $5 trillion if it increases 300 percent. At Bitcoin's all-time high price of about $65,000, the cryptocurrency had a market cap of around $1.2 trillion. The analyst looks very hopeful about the future and makes the following predictions:

By the end of the decade, I'm pretty sure we'll see the price of Bitcoin above hundreds of thousands of dollars. In fact, it will potentially reach a million dollars per cryptocurrency by the end of the decade.

Lark Davis: Cryptocurrency market is still in its early stages
Also, the crypto commentator mentions that crypto is still in its early stages. Noting that cryptocurrencies are currently at $2.2 trillion, Lark Davis says all cryptos are less valuable than Apple and Microsoft. He also states that Bitcoin is less valuable than Saudi Aramco, Alphabet, Amazon and Facebook. Lark Davis uses the following maxim when promoting investments in low-cap altcoins:

Altcoins are for making big gains, Bitcoin is for protecting gains.

The analyst emphasizes that investing in altcoins with low market caps and profiting from them as altcoins rise is a way to make money in the crypto space.

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