Bitcoin ‘Final Cycle Pump’ Puts Price As High As $200,000
21 Setembro 2024 - 9:01PM
NEWSBTC
Bitcoin (BTC) could be gearing up its last explosive rally of a
four-year market cycle, which traditionally kicks off at the
beginning of a halving event and culminates just before the next
one. A crypto analyst has boldly predicted that the price of
Bitcoin could surge to $200,000 and above, marking new All-Time
Highs (ATHs) and the peak of the long-awaited bull
market. Related Reading: Institutional Whales Bet
Big On Bitcoin As BTC Nears $64,000 Bitcoin Enters Final Pump
Stage On September 19, ‘Stockmoney Lizards,’ a crypto analyst
took to X (formerly Twitter) to discuss his new prediction about
the crypto market, particularly zeroing in on the cyclical nature
of Bitcoin’s price movements and its halving events.
The analyst believes the market is currently at the start of the
“final pump of the Bitcoin bull cycle.” Based on historical trend
patterns following past halving events, Stockmoney Lizards has
stated that he has high expectations that Bitcoin will reach its
cycle top between September and October 2024. Cycle top here
typically means the highest price level BTC can achieve during a
bull market. Stockmoney Lizards has unveiled his personal
price targets for Bitcoin during this seemingly last pump stage. He
forecasts that the crypto could reach a price between $200,000 and
$260,000, identifying these targets as the potential cycle top for
this market cycle. Sharing a detailed chart depicting
Bitcoin’s historical price movements from 2016 till date,
Stockmoney Lizards illuminated the bullish and bearish events
following each halving event. He referenced the last three cycle
tops during past halving events, identifying a unique trend pattern
where the market experiences an extended bull run after the Bitcoin
halving, roughly every 48 months. The analyst observed that
this trend pattern is repeating in the current market cycle,
leading him to predict that Bitcoin’s price will peak between
$200,000 and $260,000. This dramatic increase represents a price
surge of approximately 218% to 313% from Bitcoin’s current price of
$63,000, as of writing. Bitcoin 200-Day SMA To Confirm Bull
Market While some would argue that the Bitcoin bull market has
already begun, others believe that it is yet to arrive, potentially
ushering in one of the biggest rallies in Bitcoin’s history.
According to reports from Ali Martinez, a prominent crypto analyst,
the timing for the highly anticipated Bitcoin bull run may soon be
confirmed, as Bitcoin is once again testing the 200-day Simple
Moving Average (SMA). Related Reading: Avalanche (AVAX)
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Martinez disclosed that historically failing to claim this critical
support level has led to steep price corrections for Bitcoin. He
pointed to similar bearish trends observed in 2014, 2018 and 2020,
when Bitcoin failed to reach this support. As a result, the
analyst has urged investors and market experts to pay close
attention to Bitcoin’s current market trends, warning that a
rejection at this point would spell trouble for the
cryptocurrency. Featured image from Pexels, chart from
TradingView
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