Crypto influencer and trader Lark Davis says Bitcoin is set to rise, but altcoins will outpace the king coin’s growth in the coming months.
In a new video, Davis takes to the Bitcoin chart to explain why he’s short-term bullish on BTC.
Davis highlights that Bitcoin is on the verge of crossing the MACD (moving average convergence divergence), a move which has historically preceded large BTC rallies.
“This has not been confirmed yet, just keep that in mind. It may not confirm, but it’s very very close to confirming. If we keep this momentum going we will get a confirmation, and if it does confirm then this would be a very bullish technical move for Bitcoin.
The last three times that we had a bullish MACD crossover the price went up by 120%, 66% and 20%. So this indicator tends to represent a period where bitcoin will see serious gains.”
The trader adds that the indicator will likely confirm tomorrow or the following day, though nothing is certain when it comes to the BTC charts.
Davis also highlights that Bitcoin bull and Real Vision founder Raul Pal believes that the overall crypto market has passed a significant milestone after hitting a $1.8 trillion market cap. Both crypto investors believe that the valuation of the crypto space is set to double in the coming months.
The market cap of the entire digital asset space feels like the break of $1.8trn is kind of a big deal. The chart pattern suggests acceleration lies ahead on that break. My guess is the whole space doubles in next 2 to 3 months. Let see! pic.twitter.com/125lTVAkNH
— Raoul Pal (@RaoulGMI) March 30, 2021
While investors can rely on Bitcoin for steady gains as crypto market growth accelerates, altcoin investments, while riskier, are going to manifest life-changing gains for traders in 2021.
“2021 is seriously one of the biggest opportunities of your financial life. The potential for life changing money to change your financial destiny in 2021 is incredible.
But here is the truth, if you just buy bitcoin you’re not going to see the exponentially huge gains. You’ll get pretty decent returns but if you want to make the big money you gotta invest in altcoins.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong