Top Reasons Why Bitcoin Price Will Hit $100K in 2024 – Crypto Expert Lark Davis’s Bold Prediction

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Price Analysis
Top Reasons Why Bitcoin Price Will Hit $100K in 2024 – Crypto Expert Lark Davis’s Bold Prediction
Author: Nidhi Kolhapur

Feb 20, 2024 8:44
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Bitcoin Drop
Cryptocurrency expert Lark Davis made bold projections for Bitcoin’s price, suggesting a surge to $100,000 in 2024 and potentially reaching $150,000 or beyond in 2025. Davis backed his assertions with evidence, explaining concrete data rather than speculative predictions.

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Davis discussed the mathematical underpinnings of Bitcoin’s upcoming halving event, highlighting its impact on supply dynamics. With the halving set to reduce daily Bitcoin production from 900 to 450 BTC, Davis noted a significant drop in daily supply, from $45 million to $22.5 million. Despite this reduction, inflows into Bitcoin ETF products have recently surged, reaching $500 million per day.

The influx of funds into Bitcoin ETFs is particularly notable, surpassing daily miner production by a staggering tenfold. Davis pointed to this imbalance, indicating a shift in market dynamics where ETFs absorb new supply at an unprecedented rate. He underscored the potential implications of this trend, projecting substantial inflows into Bitcoin throughout 2024.

Proof Bitcoin is going to $100,000 in 2024
Davis thoroughly analyzed potential cash inflows into Bitcoin, projecting scenarios based on current trends. Even in the most conservative estimates, with inflows matching post-halving miner production, Davis forecasted a $100,000 Bitcoin price. He explored scenarios where ETF inflows outstrip miner production by multiples, suggesting the possibility of even higher price targets.

Also Read: Bitcoin, Ethereum, and Solana Price Predictions: BTC, ETH & SOL Price On Verge Of Major Breakout

Moreover, Davis discussed additional catalysts driving Bitcoin’s upward trajectory, including potential ETF launches in Hong Kong and South Korea. He pinned the interest from institutional investors and retail buyers, indicating sustained demand for Bitcoin despite potential sell-side pressures.

Drawing parallels with previous market cycles, Davis outlined a path to $100,000 Bitcoin by late 2024, with the potential for an earlier breakthrough fueled by ETF inflows. Bitcoin is trading above the $52k level at the time of writing.

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Price Analysis
Chainlink (LINK) & Avalanche (AVAX) Prices May Erupt Soon: May Trigger a 15% Rally Soon
Author: Sahana Vibhute

Feb 20, 2024 13:37
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Altcoin Market Outlook
The crypto bulls appear to have entered a trivial consolidation phase, as the majority of them have dropped below their newly gained highs. Amid the bearish pressure, Chainlink (LINK) and Avalanche (AVAX) prices are showing some signs of a rebound. However, the bears do have a major dominance at the moment but if the bulls display some strength, the prices could erupt into the next major resistance.

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Chainlink (LINK) Price Analysis

The Chainlink price is heavily consolidating above the newly formed resistance-turned-to-support levels, which signals the growing strength among the bulls
With this, the DMI is suggesting the token remain under consolidation between $19 and $23 for a few weeks as the +Di & -Di may undergo a bearish crossover, which may compel the price to trade sideways
Therefore, the levels may maintain an ascending consolidation and later undergo a bullish breakout beyond $25
Besides, the depleting volume may raise some concerns, which could delay the breakout, but the token undergoing a bearish pullback could be unlikely.
Avalanche (AVAX) Price Analysis

The Avalanche price has been displaying acute strength for a long time and has maintained levels around the gains
Although the latest pullback has dragged the levels slightly lower, the bulls have managed to hold the price above the support, which suggests a rebound could be fast approaching
The RSI is trying to trigger a rebound at the average levels, while the MACD is flashing bearish signals. Therefore, the AVAX price may either experience equal bullish or bearish pressure or else both are expected to remain passive.
In both cases, the price could remain still with negligible volatility and may initiate a flip as the selling pressure fades
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