Altcoin Market Upswing: Lark Davis Predicts Major Gains Ahead

Lark Davis has the altcoin market upswing back in view, underscoring a recovery that has been some time coming after five years of little activity. The kind of momentum and major gains one might expect from a few select altcoins are what Davis is highlighting.

Five Years of Stagnation Ending

For the most part, the altcoin space has been dormant over the last half decade, without much of note happening, but in recent months Davis says the writing on the wall has changed. There is enough new activity to put an end to the protracted consolidation, and he calls it a turning point for realizing sizeable profits with some digital assets.

Economic Indicators Add Support

Davis attributes the upturn in the altcoin market to the wider economy as well. A case in point is the ISM PMI index; after the industrial sector was in contraction for quite a while, it has now turned positive. That is indicative of a global economic reversal and is significant for the cryptocurrency market at large.

Top Picks: Zcash and Aerodrome

Zcash is the coin Davis singles out. It has already seen a 20 or 30-fold gain in his estimation, but he thinks there is room for a further 10x rally. “Junk coins” will have their day, but a project of Zcash’s standing will be hard to beat.

Then there is Aerodrome, a protocol Davis commends for the revenue it generates and its level of activity. With the market eyeing smaller-cap projects with promise, he sees those factors as being good for growth down the line.

Risks and Less Attractive Sectors

But Davis is not in favor of blind investing. StarkNet is an example he gives of a project with scant user engagement and little real-world application; it is not very appealing even in the present climate. His advice is to look for quality and substance in an altcoin while the momentum holds, all the more so since the mainstream has yet to warm to cryptocurrencies.

This article reflects the channel author’s opinion and is not investment advice.