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.
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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