Recently, Lark Davis, renowned influencer and analyst in the world of cryptocurrencies, he rekindled investor enthusiasm with a bold statement about the future of Bitcoin.
In a tweet, Davis proclaimed that “crypto bears have no idea how crazy this bull run is about to be,” signaling a period of significant appreciation for the market’s most popular cryptocurrency.
The optimistic scenario outlined by Davis is supported by key factors. Firstly, the recent occurrence of Bitcoin Halving reduced the reward per block mined from 6,25 to 3,125 BTC. This change drastically reduced the daily issuance of new bitcoins, which now hovers around just 450 units, highlighting a marked scarcity of the asset.
Furthermore, Davis points to the growing institutional interest in Bitcoin, especially evident with the integration of ETFs. According to him, “US ETFs are buying thousands of Bitcoin every day”, which demonstrates a robust inflow of institutional capital into the cryptocurrency. The analyst also mentions the imminent launch of spot Bitcoin ETFs in Hong Kong, with similar expectations for Japan, Singapore and South Korea, factors he believes will further drive Bitcoin's appreciation.
At the moment, the Bitcoin price it was trading at $64.500 down 3,3% on the day.
Davis' conviction that we are still just seeing “the tip of the iceberg” regarding Bitcoin's market potential is supported by the combination of reduced supply and growing demand, both institutionally and retail. This context promotes a favorable environment for a significant appreciation in the price of the digital asset.
