Given the renewed upward performance of the entire cryptocurrency market after the recent Federal Reserve (Fed) interest rate cutBitcoin is witnessing a wave of bullish predictions from cryptocurrency experts, with some predicting that BTC’s final surge for this cycle has already been officially set.
Bitcoin could be about to experience its last big rally
Cryptocurrency expert and trader Stockmoney Lizards, in a bold statement, has declared that the last cycle pump for Bitcoin has begun, marking the beginning of a new and explosive phase for the largest digital asset. In light of the current market rally, the statement sparked excitement and hope among investors and traders, prompting anticipation of notable gains in the coming months.
This outlook from Stockmoney Lizards underscores that Bitcoin is poised to go its own way. last significant rally in the current market cycle. The expert bases his forecast on trends from previous cycles that could trigger an unprecedented price increase.
While the crypto expert believes the final pump of this BTC cycle has begun, he expects prices to peak around September. October next year. Meanwhile, he has placed his next target and cycle top for the crypto asset between the $200,000 and $260,000 levels.
Reiterating previous cycles, particularly the last 3 cycles, Stockmoney Lizards noted that BTC in each cycle peaked roughly 48 months apart. The Bitcoin Halving Event“The trend lines (red for the bearish case, green for the bullish case) project possible minimum prices,” he added.
Thus, considering this pattern, the analyst is confident that the next cycle peak will occur between the $200,000 and $260,000 price level, which demonstrates his optimism towards the long-term potential of the cryptoasset.
BTC's next bullish phase is on the horizon
Stockmoney Lizards' optimistic forecast aligns with cryptocurrency analyst PharaohX33, who has also predicted a major rally imminent for Bitcoinpossibly to a new all-time high using the price behavior of the past cycle. The analyst, after analyzing the last cycle, has pointed out that BTC is preparing for its next bullish phase, suggesting an alignment between this current cycle and the 2020 cycle.
According to Pharaoh, Bitcoin started to rise in 2020 between 670 and 680 days after the bear market bottom was reached. Furthermore, the crypto asset entered a consolidation phase and started to rise approximately 160 to 170 days after the halving event that year.
Meanwhile, in this cycleBTC is approximately 668 days away from the last bear market low and has been consolidating for approximately 152 days since the last Halving event, which took place in April of this year.
Drawing a parallel with the 2020 cycle trend, the expert’s projection implies that BTC’s next bullish phase could begin in the coming days. This early price breakout will likely trigger a major rally towards a cycle high.
Featured image from Unsplash, chart from Tradingview.com
