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Bitcoin Is In For A ‘Massive Bull Run’ If This 2020 Pattern Repeats, Analyst Says

Entrepreneur and Bitcoin investor Lark Davis is wondering if history will repeat the pattern of 2020 when Bitcoin (CRYPTO: BTC) surged at the end of the year.

What Happened: Davis in his latest post indicated that interest rate cuts and elections could send Bitcoin parabolic in the upcoming 12 months. He predicts altcoins will follow suit only if quality projects are differentiated from “vaporware.”

In another post, he marked that it has been 153 days since the Bitcoin halving. In 2020, Bitcoin moved sideways for 160 days post-halving before going parabolic. Davis added that “While history may not repeat itself, it often rhymes.”

Among the factors, he highlights expected Fed rate cuts, the upcoming election, China “printing huge money,” spiking global liquidity, and the all-time highs of stablecoin valuation. All this is aligning for a “massive bull run.”

Davis also predicts that whether a 25 basis points cut or a 50 basis points cut, the long-term outlook remains bullish and short-term volatility is expected.

Benzinga Future of Digital Assets conference

Also Read: Michael Saylor: Bitcoin To Hit $13M By 2045, ‘Will Get Us To A Different Place’

Why It Matters: While Davis predicts a bull run, in late August he believed that the long choppy summer is about to end and it is “time to buckle up and go insane.” He had then commented that usually elections are “bullish for the crypto market and “we could get a pro-crypto president in November.”

In late April, Lark Davis noted that this is just the calm before the storm, pointing to several bullish factors like growing institutional interest.

Price Action: In the past 30 days of trading, BTC accumulated 1.6% gains to trade at $60,035.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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Image: Shutterstock

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