Lark Davis: Next Year Will Be Massive For Bitcoin (BTC) – Here’s Why
According to top crypto market analyst and trader, Lark Davis, the way Bitcoin (BTC) is being accumulated by long term holders, we are likely to see massive growth in 2022.
Davis shared with his 444,000 YouTube subscribers in a recent video that Bitcoin accumulation by long-term holders would suggest that next year “may be more bullish than anyone can possibly imagine.”
The trader refers to a chart shared by on-chain analyst Willy Woo, where he highlights how peaks in long-term holder accumulation often happen just before price goes up.
“What do all those massive accumulation periods have in common? They came just before dramatically big rallies.
You know what’s just happened? Accumulation for the long-term holders here just hit a peak. We are at peak accumulation right now. Do you understand how crazy that is? We are almost about to hit a new all-time high price.
Every time before when we’ve had these big price blowouts has been when long-term holders are getting out of the markets.”
“What’s interesting is that we have completely recovered from [the recent] dip. We are now entering into accumulation discovery. That indicates to me that the market is getting ready for a massive period of expansion.
Because remember, this is a complete anomaly what we’re looking at right now, which means that 2022 is probably gonna be totally freaking crazy, because every time we’ve hit an accumulation peak like this before has been in a very, very bearish period.
Yes, we’ve had our very bearish period. And now what? Now we’re getting ready for the next major run-up.”
Davis does not only think next year is going to be good for Bitcoin, he predicts that bullish sentiment will remain throughout the decade.
“We are in a period of enhanced buying. Everybody wants to get on the train right now. Everybody’s looking, going, ‘Holy cow, this is real, it’s actually going to happen. Bitcoin’s going to 100k, 200k, 300k, 400k… It’s going to 500k, maybe even a million bucks by the end of the decade.’
2022 is going to be a good year. Really, I’d like to add onto that, this decade is gonna be a damn good decade.”
