Bitcoin (BTC) might be gearing up for its last explosive rally of a four-year market cycle, which typically starts at the beginning of a halving event. A crypto analyst predicts that Bitcoin could surge to $200,000 and above, marking new All-Time Highs (ATHs).
On September 19, ‘Stockmoney Lizards,’ a crypto analyst, discussed Bitcoin’s cyclical nature and halving events, suggesting the market is in the “final pump of the Bitcoin bull cycle.” Based on historical trends, he forecasts Bitcoin will reach its cycle top between September and October 2024.
The analyst predicts Bitcoin could reach $200,000 to $260,000 during this pump, identifying these targets as the potential cycle top. His detailed chart from 2016 to date depicts bullish and bearish events following each halving event, showing extended bull runs roughly every 48 months.
Stockmoney Lizards projects a price surge of 218% to 313% from Bitcoin’s current price of $63,000. Another analyst, Ali Martinez, mentions Bitcoin's 200-day Simple Moving Average (SMA) as a crucial level, suggesting its confirmation could usher in one of Bitcoin’s largest rallies.
