- YouTuber Lark Davis speculated on whether the crypto market crash might be coming to an end.
- Davis made specific reference to the “crazy” Bitcoin markets.
- Davis believes that yesterday was a capitulation day for the crypto markets.
Crypto and investment YouTuber Lark Davis speculated on whether the crypto market crash might be coming to an end in his most recent video posted on May 13.
Davis made specific reference to the “crazy” Bitcoin (BTC) markets. According to Coinbase (NASDAQ:COIN), in only 24 hours buyers pushed BTC’s price from $25,375 to $30,000. Davis believes the price shot up because of enthusiastic buyers who decided to buy despite the fearful sentiment currently experienced in the markets.
He also referred to the fact that BTC closed the daily candle in its key area of support. Additionally, BTC had a “solid” volume over the last 24 hours – the largest volume seen in almost 18 months.
All of this leads Davis to believe that yesterday was a capitulation day for the crypto markets.
Davis supported his claims by referring to yesterday’s BTC supply spike. This led him to believe that people who have been sitting on their BTC have finally capitulated and sold their holdings.
Another fact he brought to the table was BTC’s confluence floor model which went down yesterday. This previously only happened during the Covid Crash, the 2018 bear market bottom, and the 2014/15 bear market bottom. According to Davis, this is definitely something to consider.
Davis concluded by saying that although there is currently a massacre across the investment space, it is still almost impossible to predict the actual bear bottom. Because of this, people should be extra careful with their money.