Lark Davis – Bitcoin… Oh Sh*t! (22.04.2024 Summary)

Lark Davis – Bitcoin… Oh Sh*t! (22.04.2024 Summary)

The Crypto Market Rollercoaster: Lark’s Take

According to Lark, the crypto market is on a wild ride as usual, with Bitcoin recently dipping to around $59,750 after hitting highs of $73,000. But don’t panic – Lark sees this volatility as totally normal in a bull market cycle.

“If you’ve been around here before, you might still be a bit freaked out, but you know the big picture,” says Lark. He believes we’re still relatively early in this cycle, referencing past cycles that saw massive run-ups over years.

  • Lark is particularly bullish on the approval of spot Bitcoin and Ethereum ETFs in Hong Kong, providing access to Asian money. “Asian markets are wildly important and should not be ignored this cycle,” he states, predicting that countries like South Korea, Japan, and Singapore will follow suit with their own ETF approvals.

  • The potential inflows from these Asian ETF products could drive enormous buying pressure.

  • Lark expects the real winners to be layer 1 blockchains like Solana and the crypto base app, calling out projects like Jupiter (JUP) as solid “beta plays” to get exposure.

  • While not dismissing the likes of Bitcoin and Ethereum, Lark believes the biggest gains lie in riskier altcoin bets this cycle: “The real money gets made during the cycle on the riskier stuff.” Of course, he cautions that increased risk means an increased chance of losing money too.

Whether you’re a crypto veteran or newcomer, Lark’s perspective reminds us to zoom out, understand historical cycles, and focus on emerging narratives and ecosystems – all while managing risk accordingly. As he puts it, “The future is still so bright!”