Famous analyst Lark Davis, known for his videos and analyzes about crypto, in the video he shared on Youtube. why He shared with his followers the reasons why it is necessary to invest in crypto right now.
The Fed’s Rate Raising Plans
US stocks after first rate hike, according to Forbes 7.3% is in an increasing trend. 2016-2017 It is stated that such an event has been witnessed before the rises between the cities. Davis, the performance of cryptocurrencies recently linked to US stocks Therefore, he expects the crypto money market to increase along with stocks.
Bitcoin and Ethereum Quantities on Exchanges
According to blockchain analytics firm Glassnode, bitcoin and ethereum amounts on exchanges are at their lowest level in the last 3 years. According to Davis’ comment, crypto prices are expected to rise with increased demand.
In addition, Davis estimates the total value of the cryptocurrency market. 2030 until the year 3.4 It expects to reach billions of dollars.
Some experts said earlier this month that India’s cryptocurrency from levying taxes He thinks he will not ban cryptocurrencies because of this. He thinks this situation shows that general adoption among countries is increasing.
Why Buy Now?
Bitcoin, which reached the all-time high (ATH) level of 69 thousand in November last year, is approximately below this level at the time of writing. 39% under 42,371 traded in dollars. In this process, most cryptocurrencies 60-90% experienced a decline. Davis stated that these prices are low, “buy low sell high” said.
According to Davis, one of the biggest reasons for buying right now is the growing adoption of cryptocurrencies among social media platforms.
Davis; Reddit, Tiktok, Twitter, Youtube, Meta and big game Most of the companies, such as companies such as cryptocurrencies, describe the move towards the NFT and Metaverse space in connection with cryptocurrencies as an increase in adoption.
50,000 Thinking that people who buy Bitcoin under the dollar will make big profits in the future, Davis said, 2030 for the year 1 million dollars estimated price. well 50 thousand dollars bitcoins bought under more than 20 times He thinks he will make a profit.