- Lark Davis highlights bullish crypto potential if pro-crypto candidate takes the chair.
- At the moment, pro-crypto Kevin Hassett is likely to replace Powell.
- Davis believes Hassett will cut rates by a full 1%.
The crypto market showed steady signs of recovery over the week and the crypto community is now hoping to see a relief rally of sorts for crypto prices, starting with the pioneer crypto asset, Bitcoin (BTC). One bullish indicator is as Lark Davis highlights bullish crypto potential if pro-crypto Kevin Hassett will replace Powell as Fed Chair. This is a highly probable move that could greatly pump all financial sectors.
Lark Davis Highlights Bullish Crypto Potential
Today, the price of the pioneer crypto asset, Bitcoin (BTC), surged to reclaim its $90,000 price range, igniting bullish expectations for the crypto community. At the moment, analysts who predicted the possibility of a relief rally expect the price of BTC to continue to climb and reclaim prices between $100,000 to $110,000. With bullish sentiments returning and QT ending, significant pumps could take off.
In contrast, bearish analysts believe this is a planned bull trap, aimed at pumping prices to pump sentiments and allow retail to buy in, only to let prices fall again, and this time even greatly. These bearish analysts believe the price of BTC could fall as low as the $50,000 to $60,000 price range next, with the most bearish expecting $40,000 price range prices. This outcome is likely if QE does not pick up soon, according to many.
Coming back to the bullish stance, these analysts say that the 4-year bull cycle is no longer in play , meaning a bear market is unlikely to occur, especially since altseason has not yet occurred. What’s more, these analysts go on to highlight a number of bullish indicators that could bring a massive flood of liquidity to the crypto markets. This paired with regulatory activity and altcoin ETF launches, all point to highly bullish months ahead.
Pro-Crypto Kevin Hassett Could Replace Powell as Fed Chair
Another massively bullish sign for the crypto market is the announcement of more rate cuts. The fact that this year has not seen many deep rate cuts has frustrated President Trump more than anyone else. This led to discussions of current Fed Chair, Jerome Powell stepping away, making it possible for a pro-crypto candidate to take his spot, much like Trump did with the SEC Chair.
That move led to bullish times for the crypto market and Lark Davis expects something similar to occur if pro-crypto Kevin Hassett, the leading candidate to replace Powell as Fed Chair, takes the role. In detail, Hassett has served on Coinbase’s advisory council, and if he takes the chair, we will see a Fed that’s not only going to be friendly towards digital assets, but a Chair who will likely cut interest rates down to 1%.
