Crypto Trader Lark Davis Says He’s Bullish on Bitcoin, Ethereum and One Large-Cap Altcoin
Crypto trader and influencer Lark Davis says he’s bullish on Bitcoin, Ethereum and one more large-cap altcoin.
In a new video, Davis says that despite Bitcoin being 50% away from its all-time high of $64,804, his outlook on the flagship digital asset hasn’t faltered, and he remains bullish on the king crypto.
“…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.”
The trader outlines why he continues to be optimistic about smart-contract leader Ethereum, mentioning the utilities and fundamentals of the second-largest crypto by market cap. According to Davis, 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.”
Davis names one large-cap altcoin as another crypto 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.”