Widely followed crypto trader and market analyst Lark Davis believes that Bitcoin (BTC) is shaping up for explosive growth next year.
In a new video, Davis tells his 444,000 YouTube subscribers that recent Bitcoin accumulation by long-term holders indicates that 2022 “may be more bullish than anyone can possibly imagine.”
[adinserter block="1"]Looking at a chart shared by on-chain analyst Willy Woo, Davis takes a look at how peaks in long-term holder accumulation often precede price rises.
“What do all those massive accumulation periods have in common? They came just before dramatically big rallies.
You know what’s just happened? Accumulation for the long-term holders here just hit a peak. We are at peak accumulation right now. Do you understand how crazy that is? We are almost about to hit a new all-time high price.
Every time before when we’ve had these big price blowouts has been when long-term holders are getting out of the markets.”
“What’s interesting is that we have completely recovered from [the recent] dip. We are now entering into accumulation discovery. That indicates to me that the market is getting ready for a massive period of expansion.
Because remember, this is a complete anomaly what we’re looking at right now, which means that 2022 is probably gonna be totally freaking crazy, because every time we’ve hit an accumulation peak like this before has been in a very, very bearish period.
Yes, we’ve had our very bearish period. And now what? Now we’re getting ready for the next major run-up.”
The crypto analyst thinks that Bitcoin sentiment will remain positive not just next year, but throughout the decade.
“We are in a period of enhanced buying. Everybody wants to get on the train right now. Everybody’s looking, going, ‘Holy cow, this is real, it’s actually going to happen. Bitcoin’s going to 100k, 200k, 300k, 400k… It’s going to 500k, maybe even a million bucks by the end of the decade.’
2022 is going to be a good year. Really, I’d like to add onto that, this decade is gonna be a damn good decade.”
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