Popular crypto analyst Lark Davis believes the bull run will be for Bitcoin (BTC) and will extend the entire crypto market well into 2022.
Davis tells his 779,600 Twitter followers that he has seven reasons he’s optimistic about a price hike over the next year.
First, he thinks it is likely that U.S. regulators will approve a Bitcoin Spot Exchange Traded Fund (ETF) in 2022. The Securities and Exchange Commission recently postponed rulings on Grayscale and Bitwise’s Bitcoin ETF filings.
Davis believes the market will stay bullish until a full-fledged Bitcoin ETF is released, and then turn bearish.
“For reference, gold had a strong rally before the spot ETF was approved, followed by a year of falling prices, followed by [a] multi-year mega rally. “
Source: TheCryptoLark / Twitter
The analyst also notes that cycles are getting longer, meaning the likely peak of the current cycle will come sometime in 2022.
In addition, Davis says that there are upcoming major upgrades for Ethereum (ETH) could add to the general bull market.
“The switch to Proof of stake, Triple halving and limited sharding introduction that could have 3 or 4 X TPS at ETH.
ETH remains the king of smart contracts, so what happens there has an impact on the entire market. “
Other emerging smart contract platforms will also play a role, according to the analyst.
These chains are just beginning. In addition, all the major chains have promised billions of ecosystem incentives. “
He also says that gaming and metaverse tokens are on the verge of breaking out in a big way.
“Gaming will attract tens of millions or more new users.
The Metaverse is a multi-trillion dollar industry of the future. It’s hard to convey how big this will be and we have many game and Metaverse launches in 2022. “
Finally, Davis argues that big investment funds are only just beginning to flow into crypto.
“Lots of money to find out that this is the best tech investment class of this decade. Besides, the inflation Child’s play with rampant crypto.
Still, most of them are still at zero, but it won’t stay that way! We have seen many hundreds of millions of dollars in fundraising campaigns. “
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Source: Crypto News Deutsch