According to Lark, Bitcoin recently experienced a significant drop. However, he remains optimistic about the market's future. Lark points out that despite this dip, Michael Saylor continues to buy more Bitcoin and raise additional funds for further purchases.
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Lark highlights that MicroStrategy, Saylor's company, now holds an impressive 266,000 Bitcoin. He humorously suggests that the company might be selling office furniture to fund these purchases, emphasizing Saylor's unwavering commitment to Bitcoin accumulation.
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Despite the recent market turbulence, Lark maintains a bullish outlook. He refers to various charts and analyses suggesting that Bitcoin could potentially reach $80,000 to $85,000 in the coming weeks. Lark also mentions that whales (large holders) bought 84,000 Bitcoin in July alone, which he sees as a positive sign for the market.
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Lark acknowledges that the current sideways price action can be frustrating for investors, especially those new to the market. However, he encourages patience, drawing parallels to similar periods in previous market cycles. He reminds viewers that in 2020, there were months of sideways movement before a significant breakout occurred.
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Looking ahead, Lark speculates that September could be a crucial month for Bitcoin. He notes that it will be about five months post-Bitcoin halving, which historically has been a time when prices start to move upward. Additionally, he mentions the possibility of interest rate cuts in September, which he believes could create a "perfect storm" for Bitcoin's price to rise.
In conclusion, while Lark recognizes the current market challenges, he remains confident in Bitcoin's long-term potential and advises his viewers to stay patient and maintain a broader perspective on the market cycles.
