Bitcoin Bull Run Imminent, Says Renowned Entrepreneur Lark Davies
Bitcoin investor Lark Davies predicts an imminent bull run for Bitcoin due to massive accumulation by ETFs and institutions. JPMorgan, however, expresses mixed sentiment regarding the impact of potential Ethereum ETFs.
Bitcoin Investor Predicts Bullish Run Amid Crypto Rally
Renowned entrepreneur and Bitcoin investor Lark Davies has forecasted a bullish run for Bitcoin (BTC), amidst a broader crypto market rally that saw BTC rise to over $71,000.
Massive Bitcoin Accumulation and Potential Ethereum ETF Launch
Davies pointed to the recent purchase of 56,150 BTC by ETFs within the last 18 days, which equates to over a four-month supply of BTC. He also anticipates a significant impact on the market from the potential launch of Ethereum spot ETFs.
Institutional Accumulation Driving Bitcoin's Future Movement
The continuous accumulation of Bitcoin by institutions such as MicroStrategy, Block, and Semler Scientific is another factor that Davies believes will influence Bitcoin's future price movements. He predicts that the upcoming bull run will be "way crazier" than expected.
JPMorgan's Mixed Sentiment on Spot ETH ETF Approval
However, JPMorgan, a leading banking giant, has a contrasting view on the impact of Ethereum ETFs. They forecast that the inflows to ETH products this year could be lower than expected, potentially reaching $3 billion, although this figure could double if staking is permitted.
