Crypto Lark Says He Prefers Bitcoin’s Current Price Levels
It may have sounded like a joke, but it’s all too true. The world needs a little levity in this world, and even though I’m a dedicated follower of the Bitcoin price, I have to admit that I find the current price levels tepid. Yes, there’s a lot of enthusiasm for the technology, and the price is above $7,000 as of this writing, but at the same time, it’s still too much of a long shot to convince me that Bitcoin is the winner in the battle of digital currencies.
Cryptocurrencies have had some interesting, and at times, ridiculous, price movements over the past year. In the midst of this, let’s not forget bitcoin. Bitcoin has had a hard time adjusting to the current market. The price has been relatively stagnant for the past few months, especially while the rest of the cryptocurrency market has been on fire. The price has dropped, and dropped, and dropped some more. It has also increased, and increased, and increased, though the movement has been much smaller than other coins.
Because it’s 2017 and Bitcoin is dominating the news cycle (followed closely by Ethereum and Litecoin), it’s only fitting we pay a visit to the man who coined the phrase “Bitcoin Lark.” In an interview with Bitcoinist, crypto enthusiast Crypto Lark said he would like the cryptocurrency to be worth $10,000,000 U.S. dollars.. Read more about why did bitcoin spike and let us know what you think.
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News about Bitcoin
Lark Davis, a well-known crypto fan and YouTuber, recently tweeted about how he likes bitcoin’s current price. Bitcoin’s price is now yo-yoing between $30-40k, which Lark likes. He did add, though, that raising the price would make other investors happy, so he isn’t opposed to it.
Personally, I’d want #bitcoin to stay in the 30k-40k area for a lot longer, but I’ll be pleased when we start pushing up to new highs since it means there will be a lot more happy investors! On social media, I’ve seen enough salt to build a salt mine!
June 14, 2021 — Lark Davis (@TheCryptoLark)
Lark Davis has been involved in the crypto world for much too long, and he has a sizable bitcoin holding. To the average person, this seems depressing coming from a long-term investor. However, it is worth noting that more long-term investors consider the long term. Bitcoin’s resistance bands are now very low, indicating that the price is quite steady.
Bitcoin price stability isn’t something that happens all that frequently. The asset is presently priced appropriately for its use case and market, and any price hikes will not be long-term. These brief price spikes seem to be beneficial to investors, but they are not.
Thousands of individuals lose money as a result of these rash price hikes. Many individuals profit from these surges, but the market as a whole loses a lot of money. This tweet from Lark Davis is a perfectly logical idea, and it significantly alters bitcoin’s risk profile.
Purchase the Dip
The buy-the-dip attitude is another element of the tweet. One of Lark’s responses is that he intends to purchase more, which is why he wants the price to remain low. While this may not be the most important reason (I’m reading between the lines here), it’s a nice one. This demonstrates Lark’s general enthusiasm for bitcoin and his confidence in its future.