Given the renewed upward performance of the entire cryptocurrency market following the recent Federal Reserve (Fed) interest rate cut, Bitcoin is witnessing a wave of bullish predictions from crypto experts, with some forecasting that BTC’s final surge for this cycle has officially set in.
Bitcoin Might Be Poised For The Last Great Rally
Crypto expert and trader Stockmoney Lizards, in a bold statement, has declared that the last cycle pump for Bitcoin has started, signalling the beginning of a fresh and explosive phase for the largest digital asset. In light of the ongoing market rebound, the declaration ignited enthusiasm and hope among investors and traders, prompting anticipation for notable gains in the upcoming months.
This perspective from Stockmoney Lizards underscores that Bitcoin is about to go on its final significant rally in the current market cycle. The expert bases his forecast on past cycle trends that could trigger a surge to unprecedented prices.
While the crypto expert believes that the final pump of this BTC cycle has begun, he expects the prices to top out around September to October of the following 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 has topped out roughly 48 months apart from the Bitcoin Halving event. “The trendlines (red for the bear case, green for the bull case) project potential price floors,” 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, demonstrating his optimism toward the crypto asset’s long-term potential.
BTC’s Next Bullish Phase On The Horizon
Stockmoney Lizards’ optimistic forecast aligns with crypto analyst PharaohX33, who has also predicted an impending major rally for BTC, possibly to a new all-time high using past cycle price performances. The analyst after analyzing the last cycle, has pointed out that BTC is gearing up 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 achieved. In addition, the crypto asset entered a consolidated phase and began breaking out roughly 160 to 170 days following the Halving event in that year.
Meanwhile, in this cycle, BTC is approximately 668 days away from the last bear market low and has consolidated for about 152 days since the last Halving event, which took place in April this year.
Drawing a parallel with the 2020 cycle trend, the expert’s projection implies that BTC’s next bullish phase could be starting in the upcoming days. This anticipated price breakout will possibly trigger a major rally to a cycle top.
Featured image from Unsplash, chart from Tradingview.com
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