Get ready for a journey into the world of Bitcoin as renowned crypto analyst Stock Money Lizards unveils insights on the future of Bitcoin. All eyes are on the upcoming Bitcoin halving event, with StockMoney Lizards predicting a potential rally for Bitcoin, predicting a $250,000 price based on past halving patterns.
Halving pattern revealed
In a recent tweet, Stock Money Lizards introduced the Bitcoin halving cycle and revealed the price movement before and after the event. This cycle analysis is key to predicting what will happen during the upcoming Bitcoin halving.
Let’s rewind to a previous half-year. In 2012, Bitcoin started at $32 and shot up to over $1,200 after the halving. During the halving in 2016, it fell to $650 before hitting an all-time high of $19,783, ushering in what is known as the “crypto winter.” In 2020, the value of Bitcoin before the halving was $9,000, rising to a peak of $68,000 and settling around $20,000.
Current market situation
Stock Money Lizards predicts a decline to $35,000, hinting at a consolidation phase before the halving. However, the crystal ball also reveals a potential surge of more than 100%, predicting Bitcoin price to be around $250,000 within the next six months after the halving.
What influences the price of Bitcoin?
There are various factors behind these predictions such as technical analysis and market sentiment. Bitcoin is currently trading at $42,661, marking a 1.9% decline over the past week. The 24-hour trading volume showed a decrease of 24.1%, and the market capitalization was approximately $835.12 billion.
Stockmoney Lizards will serve as your guide as you navigate the twists and turns of Bitcoin history. Will Bitcoin reach the expected $250,000 after the halving?only time will tell