As an experienced crypto investor who has witnessed the rollercoaster ride of Bitcoin over the past decade, I find myself both intrigued and cautiously optimistic about this latest prediction by Stockmoney Lizards. Having seen the market surge from pennies to six-figure prices and then plummet back down, I’ve learned to take such forecasts with a grain of salt.
It’s possible that we might be witnessing the final powerful surge in the four-year cycle of Bitcoin‘s market, a rally that usually starts around the time of a halving event and ends just before the next one. A cryptocurrency expert has dared to forecast that the value of Bitcoin could soar to $200,000 or more, establishing new record highs (ATHs) and signaling the zenith of the much-anticipated bull market.
Bitcoin Enters Final Pump Stage
On September 19th, a cryptocurrency analyst known as ‘Stockmoney Lizards’ shared his latest insights (previously posted on Twitter) about the crypto market. His focus was primarily on the recurring pattern in Bitcoin’s price fluctuations, emphasizing the impact of its halving events.
According to the analyst’s perspective, we might be witnessing the initial stage of the “climactic rise” in the Bitcoin market cycle. Referencing historical patterns after previous halving events, Stockmoney Lizards expressed optimism that Bitcoin could hit its peak price somewhere between September 2024 and October 2024. The term “cycle top” refers to the maximum value BTC can potentially reach during a bullish market trend.
Stockmoney Lizard has revealed his predicted price ranges for Bitcoin during what appears to be its final surge phase. He anticipates that the cryptocurrency may reach a value between $200,000 and $260,000, considering these levels as potential peak points for this market cycle.
The market typically undergoes a prolonged growth phase after Bitcoin’s halving, approximately every 48 months.
The analyst notes that the pattern of this trend is recurring in the present market cycle, causing him to anticipate that Bitcoin’s value may reach anywhere between $200,000 and $260,000. This significant growth suggests an increase of roughly 218% to 313% from Bitcoin’s current price of $63,000, as reported at the time of writing.
Bitcoin 200-Day SMA To Confirm Bull Market
Some people think that the Bitcoin bull market has already started, while others are of the opinion that it hasn’t begun yet, and if it does, it could lead to one of the largest Bitcoin price surges ever. According to crypto analyst Ali Martinez’s findings, the arrival of the much-awaited Bitcoin bull run might be imminent as Bitcoin is once more approaching its 200-day Simple Moving Average (SMA).
Martinez revealed that, in the past, not hitting this crucial support point often resulted in significant drops in Bitcoin’s price. He drew attention to similar downtrends seen in 2014, 2018, and 2020, instances where Bitcoin fell short of reaching this critical support level.
Consequently, the analyst advises investors and financial specialists to closely monitor Bitcoin’s present market fluctuations, as ignoring a possible rejection now could lead to potential difficulties for the digital currency.
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2024-09-22 03:04