Bitcoin ‘Final Cycle Pump’ Puts Price As High As $200,000

Scott Matherson

9 months ago

4 mins read

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Bitcoin (BTC) could be gearing up its last explosive rally of a four-year market cycle, which traditionally kicks off at the beginning of a halving event and culminates just before the next one. A crypto analyst has boldly predicted that the price of Bitcoin could surge to $200,000 and above, marking new All-Time Highs (ATHs) and the peak of the long-awaited bull market.

Bitcoin Enters Final Pump Stage

On September 19, ‘Stockmoney Lizards,’ a crypto analyst took to X (formerly Twitter) to discuss his new prediction about the crypto market, particularly zeroing in on the cyclical nature of Bitcoin’s price movements and its halving events.

The analyst believes the market is currently at the start of the “final pump of the Bitcoin bull cycle.” Based on historical trend patterns following past halving events, Stockmoney Lizards has stated that he has high expectations that Bitcoin will reach its cycle top between September and October 2024. Cycle top here typically means the highest price level BTC can achieve during a bull market.

Stockmoney Lizards has unveiled his personal price targets for Bitcoin during this seemingly last pump stage. He forecasts that the crypto could reach a price between $200,000 and $260,000, identifying these targets as the potential cycle top for this market cycle.

BTCUSD is now trading at $63,127. Chart: TradingView

Sharing a detailed chart depicting Bitcoin’s historical price movements from 2016 till date, Stockmoney Lizards illuminated the bullish and bearish events following each halving event. He referenced the last three cycle tops during past halving events, identifying a unique trend pattern where the market experiences an extended bull run after the Bitcoin halving, roughly every 48 months.

The analyst observed that this trend pattern is repeating in the current market cycle, leading him to predict that Bitcoin’s price will peak between $200,000 and $260,000. This dramatic increase represents a price surge of approximately 218% to 313% from Bitcoin’s current price of $63,000, as of writing.

Bitcoin 200-Day SMA To Confirm Bull Market

While some would argue that the Bitcoin bull market has already begun, others believe that it is yet to arrive, potentially ushering in one of the biggest rallies in Bitcoin’s history. According to reports from Ali Martinez, a prominent crypto analyst, the timing for the highly anticipated Bitcoin bull run may soon be confirmed, as Bitcoin is once again testing the 200-day Simple Moving Average (SMA).

Martinez disclosed that historically failing to claim this critical support level has led to steep price corrections for Bitcoin. He pointed to similar bearish trends observed in 2014, 2018 and 2020, when Bitcoin failed to reach this support.

As a result, the analyst has urged investors and market experts to pay close attention to Bitcoin’s current market trends, warning that a rejection at this point would spell trouble for the cryptocurrency.

Featured image from Pexels, chart from TradingView

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

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In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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