Bitcoins (BTC) may be preparing its last explosive raid four-year market cyclewhich traditionally starts at the beginning of a halving and culminates just before the next one. The cryptocurrency analyst boldly predicted that the price of Bitcoin could rise to $200,000 and more, which means fresh all-time highs (ATH) and the peak of the long-awaited bull market.

Bitcoin enters final pumping phase

September 19, “Stockmoney Lizards” – a cryptocurrency analyst contacted X (formerly Twitter) asking for to discuss his fresh forecast for the cryptocurrency market, particularly focusing on the cyclical nature Bitcoin price movements and its halving.

The analyst believes the market is currently at the beginning of the “last pump of Bitcoin’s up cycle.” Based on historical trend patterns following previous halving eventsStockmoney Lizards stated that it has high expectations for Bitcoin to reach a cycle peak between September and October 2024. Top of the bike here it usually means the highest price level that BTC can reach in bull market.

Stockmoney Lizards has revealed its personal bitcoin price targets during this seemingly final stage of pumping. He predicts the cryptocurrency could reach a price between $200,000 and $260,000, identifying these targets as a potential cycle top for this market cycle.

Sharing a detailed chart showing Bitcoin’s historical price action from 2016 to today, Stockmoney Lizards illuminated the bullish and bearish events following each halving. He referenced the last three cycle highs during previous halvings, identifying a unique trend pattern where the market experiences an extended bull run after Bitcoin Halvingapproximately every 48 months.

The analyst noticed that this trend pattern is repeated in current market cyclewhich led him to predict that Bitcoin’s price would peak between $200,000 and $260,000. This drastic augment represents a price augment of about 218% to 313% over Current Bitcoin Price of $63,000 at the time of this writing.

Bitcoin 200-day SMA confirms bull market

Although some would to argue that the bull market for Bitcoin has already begun, others be careful that has not yet arrived, potentially heralding one of the biggest rallies in Bitcoin history. According to reports from Ali Martinez, a prominent cryptocurrency analyst, it is time for the long-awaited Bitcoin bull market may be confirmed soon as Bitcoin once again tests its 200-day basic moving average (SMA).

Martinez revealed that historically, failure to reach this critical support level has led to pointed price corrections for Bitcoin. He pointed to similar bear trends was observed in 2014, 2018, and 2020 where Bitcoin failed to reach this support.

In this regard, the analyst called on investors and market experts to pay special attention to Current Bitcoin Market Trendswarning that rejection at this stage would spell trouble for the cryptocurrency.

Featured image from Pexels, chart from TradingView