Crypto Expert Reveals Why Bitcoin Could Hit $200,000 By April

Scott Matherson

1 year ago

3 mins read

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A crypto analyst has forecasted Bitcoin’s price to surge to unprecedented highs ahead of the 2024 Bitcoin halving event scheduled for April. The cryptocurrency has already been experiencing significant gains, surpassing its previous all-time high to trade above $70,000.

Bitcoin’s Path To $200,000

In a recent X (formerly Twitter) post, crypto analyst, Gert van Lagen provided a compelling narrative supporting Bitcoin’s bullish trajectory leading up to the halving event in April 2024.

Sharing a price chart illustrating Bitcoin’s recent bullish movements, Lagen revealed that the cryptocurrency doubled in value within 10, 18 and 84 days following its surge to new all-time highs. As a result of this massive rallying trend, the analyst confidently expressed his belief that a move to $200,000 before the halving cycle in April is becoming more plausible.

Traditionally, the Bitcoin halving marks an event where the rewards for mining new blocks are cut by half, leading to a subsequent reduction in the cryptocurrency’s supply and contributing to a sustainable increase in its value. The highly regarded four-year event is usually accompanied by a significant bull run for Bitcoin and other cryptocurrencies within the market.

Contrary to historical patterns indicating that the Bitcoin bull run typically aligns with the halving event, the cryptocurrency has been experiencing unprecedented gains in anticipation of the halving, leading analysts to consider the possibility of an even larger price jump during the event.

The cryptocurrency’s achievement of a new all-time high before the halving stands as an extraordinary occurrence, underscoring the immense demand and growing popularity of Bitcoin in the crypto space.

Including Lagen, other analysts have predicted bullish outcomes for Bitcoin ahead of the halving event. According to crypto analyst, “The Bitcoin Therapist,” on X, Bitcoin is expected to rise to $100,000 by April. Additionally, a steady rise to new all-time highs at $75,000 is expected to occur before the halving, as stated by another crypto analyst.

Bitcoin Smashes Through $70,000 Barrier

Following its previous surge to $70,000 on Friday, March 8, 2024, Bitcoin encountered a minor setback, retracting to a level just above $69,000. However, in the last 24 hours, the cryptocurrency has recorded an unprecedented surge, amassing approximately 2.68% and currently trading above the $71,000 price mark, according to CoinMarketCap.

This price increase marks a historic milestone for the cryptocurrency as it reaches an all-time high above $71,000 for the first time. As of this moment, Bitcoin is trading around $71,312, experiencing significant price fluctuations that have contributed to its recent gains. The cryptocurrency’s 24-hour trading volume is also up by 82.80%, underscoring the increasing demand and interest in the pioneering digital currency.

BTC price at $71,581 | Source: BTCUSD on Tradingview.com

Featured image from Yahoo Finance, chart from Tradingview.com

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.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
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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