Lark Davis delivers an urgent update on the ongoing altcoin season, Bitcoin’s pivotal price levels, and Cardano’s breakthrough in blockchain scalability. Let’s unpack his insights.
Altcoin Season: Limited Time to Act According to Lark, the Altcoin Season Index hitting 80 confirms altcoin dominance is here. Historically, such periods last a few months, as seen in early 2021. He advises investors to focus on profit-taking, warning against jumping in too late as corrections could come faster than expected. While opportunities still exist, caution is key as the window narrows.
Bitcoin and Ethereum: Key Levels Bitcoin remains in a downtrend, hovering below $100K. Lark highlights $92K as a crucial support level for December, with a breakout above $100K likely to lead to new highs. Ethereum, meanwhile, is testing a multi-year resistance at $3,728. Lark predicts a potential short-term pullback before ETH surges toward a cycle peak of $15K, emphasizing the importance of patience and timing.
Institutional Confidence Grows Wall Street is all in. Lark notes over $1 billion in Bitcoin ETF inflows this week alone, with Ethereum ETFs pulling in $132 million. Institutional investors aren’t here to flip coins- they’re positioning for long-term price discovery, underscoring bullish sentiment for the months ahead.
Cardano’s Hydra Milestone: Lark celebrates Cardano’s New Hydra achieving 1 million transactions per second in testing, calling it a significant achievement for scalability. He sees this as a pivotal moment for Cardano, now poised for broader adoption.
Key Takeaways
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Altcoins: Profit-taking is critical as the current rally won’t last forever.
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Bitcoin & Ethereum: Major price moves are on the horizon—watch closely.
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Institutions: Big money is driving optimism and stability.
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Cardano: A leader in scalability, it’s one to watch for innovation.
Lark Davis emphasizes the importance of staying strategic during this volatile period. The crypto market is alive with opportunity but only for those who act wisely.
