Crypto Analyst Lark Davis – Some Altcoins Have the Potential To Rally 100-1000x in 2021
Lark Davis, one of the popular crypto analysts, has opined that altcoins will turn out to be best investments next year. In his latest video, Davis speaks about industries which show a lot of promise and altcoins which are focused on that industry.
He also states that Bitcoin will perform well but advocates to stay away from altcoin created by forking of Bitcoin blockchain. This includes Bitcoin Cash (BCH), Bitcoin Satoshi Vision (BSV), Litecoin and Dash (DASH) to name a few. He trusts that stablecoins “have won the day” in that domain.
Davis also advocated avoiding fresh stablecoin ventures and other low-liquid versions in comparison to Tether (USDT) and USD Coin (USDC).
Furthermore, the analyst does not have a positive view on Ethereum Classic, which he designates as “zombie chain.” He also cautions investing in “cheap copy-and-paste DeFi,” as so many clones continue to flood the market.
On the contrary, Davis has a positive view on “strong DeFi players.” These include Synthetix (SNX), Aave (LEND) and Ren (REN).
He also suggested traders with adequate capital to invest in yield farming protocols such as Compound (COMP) and Uniswap (UNI).
Davis states that he is particularly fascinated by the growth of DeFi on robust smart contract platforms other than Ethereum. The prominent ones inlcude Polkastarter (POLS), Cardano (ADA), and Acala (ACA) on Polkadot (DOT), as well as Kava (KAVA), BAND Protocol (BAND) and yet to be launched Persistence on Cosmos (ATOM) platform.
Furthermore, the analyst revealed that Ethereum stays as number one holding in his portfolio.
Davis said he is also bullish on nonfungible tokens (NFTs) such as Enjin (ENJ) and Rarible (RARI).
Furthermore, Davis stated that chosen niche assets have plenty of space to grow.
He further pointed out that there are only about a half-dozen power sector associated cryptos and among them only two are credible enough to be tracked.
They are Energy Web Token (EWT) and Power Ledger (POWR). Davis is also bullish on Chainlink (LINK), and especially on oracle contestants such as BAND Protocol and Dia (DIA).
Overall, Davis believes that the top 50 crypto assets list may appear totally different in 2021 as some altcoins have the capability to surge nearly 100-1000x in value while many altcoins crash and disappear.
“Altcoins are going to be the best investment of 2021. Quite simply, if you want to get rich investing in cryptocurrency then you should absolutely be paying attention to altcoins. That is where the money is going to be made this cycle. Yes, Bitcoin will do just fine, but a lot of profits are going to be banked from altcoins into Bitcoin because that is where the money is going to be made.
Altcoins offer you the potential to take an investment of a few thousand dollars and turn that into life-changing money – if, of course, you play your cards right. You see, not all altcoins are created equally. Some are going to crash and burn hard. Some just aren’t really going to do that well. Others are going to make insane returns. Investing in a lot of these cryptos – it’s kind of something similar to investing in other early-stage start-up areas. There’s an incredible risk-to-reward ratio. You can make 100x or even 1000x on your investment. It absolutely happens in crypto. Or it can go to zero.”