Top 7 Reasons Crypto Prices Will Explode Higher, According Top Analyst Lark Davis
In the recent video, the prominent crypto trader and strategist Lark Davis unveils top reasons why the entire crypto market will rise to be worth tens of trillions this decade.
#1 According to the trader, cryptocurrency is seeing an unprecedented phase of adoption by financial institutions.
“Major banks are now letting customers buy and sell Bitcoin. NYDIG has built relationships to allow almost any US bank to offer Bitcoin. Paypal now providing services for over 300 million customers”.
Meanwhile, in the US alone around 16 trillion is sitting in low yield bank accounts: “You know that some of that money is going to find its way to crypto especially since it has never been easier to buy”, the trader says.
#2 Millenials will inherit 68 trillion worth of wealth over the next 2 decades. From Davis’s research, 49% of Millenials own crypto.
“Basically Millenials will bring a megaflood of money into the market”.
Millennials are also more likely to adopt the investment as a form of payment, with 53% saying they are “very likely” to purchase products or services with crypto, vs. 40% of GenX polled and just 7% of GenZ.
#3 Globally crypto is capturing the hearts and dollars of investors. A recent report from India highlights that investors are starting to opt for Bitcoin over gold.
“In India, young investors are shunning gold for crypto, fuelling investments from $200m to nearly $40bn in the past year”.
#4 Moreover, it is notable that country-level adoption worldwide is happening at various levels which is mega bullish. One of the examples are El Salvador. The country is making Bitcoin into legal tender.
“El Salvador’s Congress already approved Bukele’s proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender”.
It is also notable that Sovereign wealth funds (investment arms of countries) have started to buy and accumulate Bitcoin and ran’s Central Bank buys Bitcoin directly from local miners now.
#5 The fifth reason for the crypto potential explosion is that institutional interest remains super high for crypto assets. As Davis says, the globally publicly-traded company are sitting on 10 trillion, hedge funds have around 4.2 trillion AUM, private equity funds 4.5 trillion, family offices control trillions.
“Big stories like Tesla and Square buying Bitcoin are important, but most of this money is being invested much more discretely. And the recent 2.2 billion raise by A16Z proves that the demand is still red hot from these institutional groups”.
#6 Moreover, Bitcoin ETFs are happening. Canada has multiple popular BTC ETF products. Brazil just released their ETF. Currently, there are 13 applications in the USA.
The trader then shows the case of gold ETF and what happened after a gold ETF was introduced in 2003: “I suspect the same will happen when the USA introduces a bitcoin ETF”.
“The craziest thing about this is that it is just the tip of the iceberg! Cardano smart contracts, ETH 2.0, Polka Dot parachains, NFTs, Defi, etc etc etc…. we are witnessing the evolution of finance! Yet we are still early on the adoption curve”.
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