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Hsz.: 1254

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Hsz.: 1254

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Hsz.: 1254

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Hsz.: 1

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Wellis  » 2022-02-17 11:00:06

Hsz.: 22

Famous analyst Lark Davis, known for his videos, shared with subscribers the reasons why it is necessary to invest in crypto right now.

Fed plans to raise rates
US stocks are up 7.3% since the first rate hike, according to Forbes. It is claimed that such an event was observed before the rises in the period from 2016 to 2017. Davis expects the crypto market to rise along with equities as the recent momentum in cryptocurrencies has been linked to US equities.

Number of bitcoins and ethereum on exchanges
The number of bitcoin and ethereum on exchanges is at its lowest level in the last 3 years, according to the analytics company Glassnode. According to Davis’ comment, cryptocurrency prices are expected to rise due to increased demand.

In addition, Davis expects the total value of the cryptocurrency market to reach $3.4 billion by 2030.

Some experts believe that India will not ban cryptocurrencies as it introduced taxes on cryptocurrencies earlier this month. He believes that this situation shows that the overall distribution among countries is increasing.

Why buy now?
Bitcoin, which hit an all-time high (ATH) of 69k last November, is trading at $42,371 at the time of writing, about 39% below that level. During this period, most cryptocurrencies fell by 60-90%. Davis stated that these prices were low and said "buy low and sell high".

According to Davis, one of the main reasons to buy right now is the growing adoption of cryptocurrencies among social media platforms.

Davis; Most companies such as Reddit, Tiktok, Twitter, Youtube, Meta, and major gaming companies describe the move to the NFT and Metaverse space around cryptocurrencies as an increase in their adoption.

Thinking that people who buy bitcoin for less than $50,000 will make big profits in the future, Davis made a $1 million price prediction for 2030. In other words, he believes that bitcoins bought for less than $50,000 will earn more than 20 times.