8 Factors Pointing To Booming Crypto Prices In Next 3 Months, Predicts Market Expert
August 28 2024 - 1:00AM
NEWSBTC
Market expert and Bitcoin (BTC) investor Lark Davis has predicted
an “insane” trajectory for the crypto market over the next 90 days,
with a confluence of factors poised to drive significant growth and
change within the digital asset landscape. In a recent social media
post, Davis outlined compelling reasons underpinning his bullish
outlook for the crypto market. Looming Catalysts Set To
Ignite Crypto Market One key catalyst highlighted by Davis is the
anticipated potential for rate cuts by the US Federal Reserve (Fed)
within the next three weeks. Federal Reserve Chair Jerome Powell’s
recent remarks at the Jackson Hole Economic Symposium hint at a
dovish monetary policy stance, which could fuel a surge in risk
assets like Bitcoin. Related Reading: Is $10,000 Possible For XRP?
Crypto Pundit Shares Bold Predictions In addition, the specter of
the upcoming US election, just 71 days away, looms large as a
pivotal juncture for the industry. With former President Trump’s
vocal support for cryptocurrencies, his potential return to the
White House could usher in a new era of crypto-friendly
policies. Trump has already promised to be the first “crypto
president,” which could mean big changes in the leadership of the
US Securities and Exchange Commission (SEC) and a more permissive
regulatory environment for the industry, which under the Biden
administration has been characterized by lawsuits and regulation by
enforcement. Trump’s advocacy for digital assets, including a
proposal to create a Bitcoin reserve to offset the $35 trillion
national debt and the firing of SEC Chairman Gary Gensler on day
one, could further boost confidence in the market, leading to
further price appreciation, as analysts expect. The release of
Changpeng Zhao (CZ), former CEO of the world’s largest exchange
Binance, from legal entanglements on September 29, could also mark
a turning point for the industry, according to the expert, offering
a fresh catalyst for the market. FTX Payout, China Unban, And
Geopolitical Shifts Further bolstering the bullish outlook is the
anticipated $16 billion payout from the collapsed FTX exchange. As
these funds are distributed to affected users, a significant
portion of the capital could flow back into the crypto market,
fueling a surge in demand for the leading digital assets. Lastly,
rumors of China potentially unbanning crypto and Russia’s move
towards embracing international crypto payments are additional
factors that could contribute to the market’s momentum in the
coming months. According to Davis’ analysis, reopening the
Chinese market and Russia’s pro-crypto stance are both
incredibly bullish developments. This could potentially unlock
massive new sources of capital and demand for cryptocurrencies.
Related Reading: Toncoin (TON) Price Performance 5 Days Post-Durov
Arrest: What’s Next? Ultimately, these developments are seen as
potential catalysts for the market in the next 3 months, which
could contribute to further price appreciation for the largest
cryptocurrencies. It remains to be seen if all eight can be
achieved, but if not, the vast majority of them could significantly
impact virtual asset space. At the time of writing, BTC was trading
at $61,830, down 3% in the 24-hour time frame, after hitting a
one-month high of $65,000 on Sunday. Featured image from DALL-E,
chart from TradingView.com
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