Bitrabo Editorial
With the recent interest rate reduction by the Federal Reserve, the entire cryptocurrency market has experienced a significant uptick, leading to a flurry of optimistic forecasts for Bitcoin. Many crypto analysts believe that Bitcoin’s final upward movement for this cycle has now commenced.
Bitcoin’s Final Surge May Be Upon Us
Renowned crypto trader Stockmoney Lizards has confidently announced that Bitcoin’s concluding phase of price increase has kicked off, indicating an exciting new chapter for the leading cryptocurrency. This statement has instilled a sense of hope among investors and traders, with many excited about the potential for substantial profits in the near future.
Stockmoney Lizards suggests that Bitcoin is on the verge of its last major rally for this cycle, drawing insights from past market trends that could propel its price to unprecedented heights. The expert anticipates that the peak for Bitcoin will occur around September to October of the following year, estimating the price to range between $200,000 and $260,000.
Reflecting on previous cycles, particularly the last three, Stockmoney Lizards highlighted that Bitcoin has traditionally reached its peaks about 48 months after the Bitcoin halving event. He emphasized that the trend projections indicate possible price foundational levels.
Given this historical pattern, the analyst believes that the forthcoming peak for Bitcoin will fall within the expected price range of $200,000 to $260,000, showcasing his confidence in the long-term potential of the asset.
Upcoming Bullish Momentum for Bitcoin
The optimistic outlook of Stockmoney Lizards resonates with that of crypto analyst PharaohX33, who has also forecasted a significant rally for Bitcoin, potentially reaching a new all-time high by utilizing patterns from previous cycles. After reviewing past performances, he noted that Bitcoin appears ready to initiate its next bullish phase, similar to the patterns seen in the 2020 cycle.
PharaohX33 observed that Bitcoin began its upward trajectory in 2020 roughly 670 to 680 days post the lowest point of the previous bear market. Notably, the cryptocurrency entered a phase of consolidation and started to break out around 160 to 170 days after that year’s halving event.
In the current cycle, Bitcoin is about 668 days from its last bear market low and has been consolidating for approximately 152 days since the recent halving that occurred in April. This alignment with 2020’s cycle suggests that Bitcoin’s next bullish phase could commence imminently, potentially leading to a significant rally as it reaches its cycle peak.