YouTuber and famous crypto analyst Lark Davis shared his thoughts on whether the crash in the cryptocurrency market will end soon. Talking about the “crazy” Bitcoin markets at the moment, Davis believes that the recent sharp drops are a day of capitulation for the cryptocurrency markets. Here are the details…
Lark Davis shared his critical comments for Bitcoin
Lark Davis, in his latest tweet about Bitcoin, is the largest cryptocurrency with market value He thinks that a decrease in his unit may come. In his tweet, Davis said, “We can expect new highs for 2024 if 4-year cycles continue for Bitcoin. However, after 2 years of winter,” he shared the graphic below. It is worth noting that the four-year cycle that the analyst draws attention to is the block halving event, which takes place every four years. As we have reported as Kriptokoin.com , the last halving took place in May of 2020.
If our #bitcoin 4 year cycle keeps playing out then we would be looking for new highs in 2024 with a coming 2 years of winter.
I hope not, but food for thought pic.twitter.com/3CzO6O5jrn
— Lark Davis (@TheCryptoLark) May 13, 2022
Crypto and investment YouTuber Lark Davis, published on May 13 In his latest video, he speculated on whether the crypto market crash will ever end. Davis made special reference to the “crazy” Bitcoin (BTC) markets. According to Coinbase (according to Coinbase, buyers increased the price of BTC from $25,375 to $30,000 in just 24 hours. Davis believes the price has risen due to enthusiastic buyers deciding to buy despite the fears currently in the markets
Bitcoin capitulated?
He also touched upon the fact that BTC has closed the daily candle in the key support area Additionally, BTC has had “solid” volume in the last 24 hours – the largest seen in almost 18 months All this leads Davis to believe that May 12 is a capitulation day for the crypto markets. Davis backed up his claims by citing yesterday’s BTC supply surge, which led people holding their BTC to believe that they eventually surrendered and sold their holdings. Davis concluded by saying that while there is a carnage in the investment space right now, it is almost impossible to predict the bottom of the bear market
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