Altcoins
Check out his top picks, including XRP and more
Popular analyst Lark Davis presented his latest video and said that Bitcoin holders might not be ready for what is coming. Looking at the charts, Bitcoin is showing strong signs of reaccumulation. According to him, Bitcoin, which is currently around $68,000, recently broke through the critical resistance level of $72,000. A break above this level could propel Bitcoin towards $90,000 to $100,000 in the coming months.
US small-cap equity funds also saw a massive inflow of nearly $10 billion, the second-largest weekly inflow on record. This inflow indicates a strong risk-on sentiment in broader financial markets, which often correlates with bullish moves in the cryptocurrency market. Contrary to some opinions, Davis suggests that rate cuts are more likely than hikes, which could have a positive impact on market liquidity and money supply.
Some Altcoins to Watch
Davis also said that the current market offers some opportunities in the altcoin space. He compared the current scenario to that of 2019, when many altcoins fell significantly before seeing their value skyrocket afterwards.
Despite his past criticism, Davis praised Ripple’s legal battles and their potential impact on XRP’s price. He speculated that a positive outcome to the lawsuit could lead to a bull run, but questioned XRP’s current utility compared to stablecoins and other blockchain solutions.
Davis is also bullish on Base Layer Two and specific altcoins like Aerodrome, Brett, and Benji. He said these tokens are essential for gaining exposure to the Base ecosystem, especially since there is no native Base token.
He also said that Ethereum is seeing increased interest with the Ethereum ETF Coming Soon. A third of all Ethereum is currently locked in staking contracts, creating a dynamic supply constraint. The launch of Ethereum spot ETFs could lead to significant inflows, similar to those seen with Bitcoin ETF.
He shared an anecdote about a successful airdrop from the Avalanche ecosystem that positively impacted his $10,000 wallet challenge. He remains bullish on Avalanche and its potential in the current cycle.
Read also : Best Altcoins to Stack as Ethereum ETF Launch Approaches!