- Lark Davis predicts two possible outcomes for the year.
- The analyst marks a 50/50 chance for bearish vs bullish outcomes for the year.
- The price to watch is the $98,000 level, can BTC hold above it?
With the month of October and the first month of the final Q4, analysts are hoping altseason could still play out, but chances are now at a 50/50 split. According to one popular crypto enthusiast, trader, investor, and analyst, there are two likely moves from here. In detail, Lark Davis predicts two possible outcomes for the year, and places 50/50 changes for bear vs bull outcomes.
Lark Davis Predicts Two Possible Outcomes for the Year
With the month of November and the second month of the final Q4 having kicked off with low and bearish sentiments, more and more analysts are shifting to bear market expectations. At the moment, the price of the pioneer crypto asset, Bitcoin (BTC), is trading at the $107,000 price range, while the price of the pioneer altcoin asset, Ethereum (ETH), is trading in the $3,700 price range.
With other altcoin prices falling to lower targets following Bitcoin and Ethereum’s leads, crypto market sentiments are also falling steadily. At the moment, according to the CMC Crypto Fear and Greed Index, the market sentiment is sitting at a score of 36, marking a strong ‘Fear’ sentiment. Thus, analysts are looking at possible patterns or other indicators to point at what can happen next.
As we can see from the post above, Lark Davis, the popular and highly recognized crypto analyst, trader, and investor, and community leader, has gone on to highlight the fact that the month of October closed with no euphoric blow-off top for Bitcoin as history suggested. Specifically, Pumptober and Uptober predictions were all flushed away and analysts now wonder if the bear market has begun.
Now, Lark Davis wonders if the 4-year bull cycle still stands or if we have entered an extended cycle like many crypto analysts and experts have been preaching this year. In either case, if the cycle still stands, it is now completed meaning a heavy drop to the $55,000 – $66,000 price range is expected by bearish analysts. However, in the case of a possible extension, a new ATH might play out.
50/50 Chances for Bear vs Bull OutcomeFor the bullish outcome to play out, Lark Davis says that $98,000 is the price to watch out for. This means that if the price of BTC were to fall slightly below the $100,000 price range, it still has the chance to go up and hit another final ATH price and trigger an extended cycle. Presently, Polymarket says that there is a 50/50 chance for BTC to stay above $100,000 this year, meaning it is either time to hedge risks or double down.
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