Crypto Analyst Lark Davis Calls for Bitcoin (BTC) to Hit $90K by Year\'s End

The recent dip in Bitcoin (BTC) might be a temporary hiccup, according to Lark Davis, a popular crypto analyst.

Bitcoin (BTC) price might be experiencing a temporary setback, but according to popular crypto analyst Lark Davis, the upcoming weeks hold the promise of a significant upswing. Davis is calling for a BTC price rally to $90,000 by the year's end, fueled by a wave of institutional investment and the highly anticipated arrival of Bitcoin exchange-traded funds (ETFs).

As the dust settles on the first half of 2022, the crypto market is gearing up for a new round of institutional capital entry, setting the stage for a potential bull run, Davis said in a recent YouTube video. Standard Chartered Bank’s recent projection of Bitcoin reaching $100,000 by August is a testament to the growing institutional enthusiasm, he added. While offering a slightly more conservative prediction, Davis is paying close attention to the long-term effects of this institutional presence.

Bitcoin ETFs, which would enable traditional investors to gain exposure to BTC without the hassle of directly acquiring and storing the cryptocurrency, are another key factor contributing to Davis' bullish sentiment. According to him, the ease of access provided by ETFs could attract a substantial amount of new capital, giving further impetus to Bitcoin's price rally.

Moreover, Davis is also optimistic about the altcoin market this year, largely driven by a massive capital influx into Ethereum (ETH) with the upcoming spot ETFs and Solana (SOL) continuing its strong performance, thanks to its leadership in blockchain development and market momentum.

On the technical front, a recent price rejection at $63,956 and bearish signals from technical indicators such as the Relative Strength Index (RSI) may pose some resistance to the bulls' immediate advance. However, if Bitcoin manages to overcome the crucial $72,000 resistance level, it could trigger a Q4 bull run, potentially having a ripple effect throughout the crypto market.

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