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CRYPTO CARNAGE OVER: Assessing the Damage!
It’s one of the cruelest features of bear markets: as soon as you think you found the bottom, the markets have a way of shaking the tree one last time. Bitcoin seemed to find a stable range for several months in 2018 before dropping another notch lower, frustrating many cryptocurrency investors and leaving people wondering how to spot the real bottom of the Bitcoin market.
Providing some guidance is Lark Davis, whom you probably know as The Crypto Lark, New Zealand’s most popular crypto personality. Mr. Davis has a popular YouTube channel, also called The Crypto Lark, with over 83,000 subscribers and featuring frequent video posts exploring the satirical side of the news and fact filled-reviews and interviews.
A tireless cryptocurrency enthusiast and advocate, Lark Davis’ personality is infectious and unforgettable. Known for his articulate, entertaining style, Lark combines his political science background, critical thinking skills and bright sense of humor to produce content that explores blockchain solutions to a corrupted world.
A bona fide trailblazer, Lark Davis grew up on a small organic homestead, reading Mad magazine, dreaming of space travel and pretending to be Indiana Jones. Having traveled the world, Lark has seen the results of excessive wealth and poverty and is currently working on several side projects, including dairy-free cheeses and a banana farm.
Courtesy: Lark Davis
Determined to get some answers in regard to 2018’s crypto crisis, Wealth Research Group asked Mr. Davis about what brought Bitcoin to where it stands now and how investors and traders can determine whether we’re truly reaching the bottom of the latest Bitcoin drawdown.
According to The Crypto Lark, we’ve seen Bitcoin have 75%-or-greater retractions five times now, so what we’re experiencing now is nothing new for Bitcoin. Back in December of 2017 and January of 2018, what we saw was a massive bubble of money flowing in, accompanied by a lot of hype in the markets among retail investors, along with a huge influx of money coming in from ICO’s.
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As 2018 has progressed, we’ve seen a lot of that ICO promise turn out to be not much more than hype, according to Lark Davis. With these ICO’s selling off millions of dollars of cryptocurrency (especially Ethereum) throughout the past year, this put a great deal of downward pressure on the crypto market.
So, what are we looking for in the current cryptocurrency environment – what can investors expect going forward? According to The Crypto Lark, the Bitcoin market has reached a stage where we’re feeling around for a bottom, and if we do go lower than where we are at now, it won’t be substantially lower.
Courtesy: Lark Davis
In other words, according to Lark Davis, he doesn’t expect to see sub-$1,000 Bitcoin. And if the price of Bitcoin does go below $1,000, he’ll be buying Bitcoin. But all indications point to growth, not contraction, in cryptocurrency: we’re seeing more and more people being hired for blockchain-based jobs, and there are massive investments in crypto and the blockchain from big players on Wall Street.
As for his own strategy, according to The Crypto Lark, he is long on Bitcoin and is dollar-cost averaging on Bitcoin and other selected cryptocurrencies at regular intervals. Mr. Davis sees them as having amazing long-term potential, so the day-to-day price action doesn’t worry him because he’s regularly putting in small amounts.
And, if we do see more downward price movement in the short term (i.e., the next few weeks), Lark Davis expects the price to come back up – and, according to The Crypto Lark, Bitcoin might come back up a lot quicker than people think it will.
The Crypto Lark’s conversation with Wealth Research Group is full of incisive analysis and a ton of information on what’s going on in the world of cryptocurrency and the blockchain, so don’t miss out on the complete interview. I also highly recommend that you visit The Crypto Lark on YouTube for frequent video updates on everything related to the crypto-verse.
Wealth Research Group’s premier financial reports will keep you up to date on what’s going on in the economy and can help you prepare yourself for big changes that are coming soon, so you’ll definitely want to get your copy of our report revealing how a premier cryptocurrency expert cracked the code of Bitcoin price prediction, our urgent report on how state-issued currencies will topple the U.S. dollar, and our report on the must-own blockchain pioneer company stock right now.
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