Crypto Analyst Gives Reasons Why A Face-Melting Bull Run Is On The Horizon

Name	Symbol	Market	Market Cap ($)	Algorithm
Four	FOURRUSD	Crypto	1,089,509,400	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Four

FOURRUSD

Crypto

1,089,509,400

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000024	-0.97%	0.002454

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000024

-0.97%

0.002454

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.002733	0.002428	0.002723	0.002478	0.00000000 - 0.015217

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.002733

0.002428

0.002723

0.002478

0.00000000 - 0.015217

Exchange	Last Trade	Size	Trade Price	Currency
Cryptocurrency	01:38:47	0.00000000	0.002803	USD

Exchange

Last Trade

Size

Trade Price

Currency

Cryptocurrency

01:38:47

0.00000000

0.002803

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	FOURR

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

FOURR

Crypto Analyst Gives Reasons Why A Face-Melting Bull Run Is On The Horizon

08/06/2024 11:00am

NEWSBTC

Crypto analyst Lark Davis recently predicted that this bull run could be more massive than most people imagine. He outlined why this market cycle could stand out from previous ones. Why This Bull Run Will Be “Face Melting” Davis mentioned in an X (formerly Twitter) post that crypto market participants are about to witness a “face-melting bull run.” He alluded to the influence of institutional investors as the reason why this bull run will stand out. For one, he noted how the US Spot Bitcoin ETFs already record hundreds of millions of daily inflows. Related Reading: Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75 Thanks to the impressive demand for these funds, Davis highlighted that fund issuers have purchased 56,150 BTC in the past 18 days of trading. He claims this amount of Bitcoin represents four months’ supply injected into the ecosystem by Bitcoin miners. These fund issuers aren’t only the institutions buying up the flagship crypto. Davis also noted that companies like MicroStrategy, Block, and Semler Scientific have continued to accumulate Bitcoin. The analyst also claimed that wealth managers and pension funds worldwide are “lining up” to invest in Bitcoin. Meanwhile, Davis also made reference to the Spot Ethereum ETFs and the massive impact they could have in this market cycle. These Spot Ethereum ETFs are expected to see massive inflows once they begin trading. JPMorgan predicts these funds could witness $1 billion to $3 billion in inflows, and crypto research firm K33 Research predicts these funds could witness up to $4 billion in inflows in the first five months of trading. Crypto analysts like Michael Van de Poppe have also expressed their bullishness on these Spot Ethereum ETFs, predicting that these funds could be the catalyst for a continuation of the bull run. Specifically, they predict that these Spot Ethereum ETFs could kickstart the altcoin season, with Ethereum and other altcoins experiencing major moves. Other Factors That Could Postively Impact This Run Following Davis’ post, crypto analyst Patric outlined other factors that could positively impact this bull run. First, the analyst mentioned interest rate cuts and noted that Canada and Europe’s Central Bank have already cut interest rates. He believes that the US will likely follow suit soon enough. Related Reading: Bitcoin On The Verge As Global Liquidity Nears New $100 Million ATH Secondly, Patric noted that the Fed’s treasury buyback program has started. This development, alongside the interest rate cuts, is expected to lead to quantitative easing (QE), which could boost investors’ confidence in investing in risk assets like Bitcoin and other cryptocurrencies. Lastly, the analyst noted that this is an election year, with the US Presidential election slated for November. Republican Presidential candidate Donald Trump also provided a much-needed boost to the market by affirming his pro-crypto stance. Based on this, Standard Chartered Bank predicts that Bitcoin could rise to $150,000 this year if Trump wins. Featured image created with Dall.E, chart from Tradingview.com

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FOURRUSD Four