Lark Davis Is Bullish on Bitcoin, Ethereum and One Large-Cap Altcoin – Polkadot
Lark Davis, a popular cryptocurrency trader, analyst and YouTube host says he’s bullish on Bitcoin, Ethereum and one more large-cap altcoin – Polkadot.
In a recent video, the analyst says that despite Bitcoin being 50% away from its all-time high of $64,804, the outlook on the biggest cryptocurrency hasn’t faltered, and he remains bullish on BTC.
“…my thesis on Bitcoin has not changed. I still believe Bitcoin is gold 2.0, inflation hedge, fantastic, scarce asset. I still think that Bitcoin is going to be worth hundreds of thousands of dollars a coin at some point.”
Davis outlines why he keeps on being optimistic about crypto utility leader Ethereum, mentioning smart contracts and fundamentals of the second-largest crypto by market cap. The trader says that there are reasons to remain bullish on ETH.
“There are so many catalysts: moving to proof-of-stake (PoS), [ETH] 2.0, [decentralized finance], [non-fungible tokens], EIP-1559, and much, much more – the developer lead and all this stuff. I’m super, super-bullish on Ethereum.”
The YouTube personality calls on one large-cap altcoin as another digital asset he remains bullish on despite the less-than-ideal state of the markets. According to the analyst, Polkadot (DOT) has a few key bullish fundamentals working in its favor, including its canary network, Kusama (KSM), which will launch parachain auctions as well as its own auctions.
“I’m still very bullish on the future of Polkadot. Now that we’re seeing Kusama parachains actually launching, and actually it’s super-bullish, because if you look at what’s happened for Kusama – and now I think more than 10% of the total supply of Kusama is bonded into these parachain auctions – which, to my mind, is very bullish for the coming Polkdadot parachain auctions.”
