Crypto bulls – on your marks!
Popular crypto analyst Lark Davis, known for his uncanny ability to sniff out market trends, is predicting a massive bull run is just around the corner. Davis, a seasoned expert with a proven track record, believes the crypto industry is on the cusp of a massive upswing, fueled by a surge of institutional money. But what exactly is propelling this potential boom?
Dive deeper to find out why experts are calling this a super cycle in the making, and how you can potentially position yourself to profit!
There has been a substantial influx of cash into spot Bitcoin exchange-traded funds (ETFs) recently. On-chain data shows that crypto whales are increasing their accumulation, signaling a major bullish trend ahead.
For instance, Dogecoin’s whale transactions exceeding $1 million have spiked by over 150 in the past 24 hours. Additionally, Franklin Templeton has considered a major investment push toward the altcoin industry.
Davis expects more institutions, wealth managers, and pension funds to follow in the footsteps of MicroStrategy. Currently, MicroStrategy holds over 1 percent of Bitcoin’s total supply, amounting to approximately 214,400 coins.
MicroStrategy’s success has inspired other companies, such as Semler Scientific, which plans to raise $150 million to acquire more Bitcoins. Semler Scientific has already invested $17 million in Bitcoin over recent years.
Remarkably, spot Bitcoin ETF issuers have purchased 56,150 BTCs in the past two weeks, equivalent to over four months of miners’ supply.
The European market and Canada have already started cutting interest rates. Combined with the fact that it’s been over a month since the fourth Bitcoin halving, Davis is confident that a super cycle is ahead.
By observing these trends and the increasing institutional interest, it seems the crypto market is on the brink of an extraordinary bull run. Stay tuned for what could be one of the most exciting periods in crypto history.
Also Read: Bitcoin (BTC) Price Eyes All-Time High By June 12th – Here’s Why
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