Analysts Say Bitcoin To Hit $35K Before Hitting This Level, As We Are In Consolidation Phase

Get ready for a journey into the world of Bitcoin as Stockmoney Lizards, a renowned crypto analyst, unfolds insights about its future. The spotlight is on the upcoming Bitcoin halving event, and Stockmoney Lizards predicts a potential surge, foreseeing a $250,000 price for Bitcoin based on its past halving patterns.

Halving Patterns Unveiled

In a recent tweet, Stockmoney Lizards showcased Bitcoin’s halving cycle, revealing price fluctuations before and after the event. This cycle analysis is the key to predicting what might happen in the upcoming Bitcoin halving.

Let’s rewind to previous halvings. In 2012, Bitcoin started at $32, jumping to over $1,200 post-halving. The 2016 halving saw a drop to $650, followed by a record high of $19,783, marking a phase known as “Crypto Winter.” In 2020, Bitcoin, valued at $9,000 before the halving, surged to a peak of $68,000, settling around $20,000.

Current Market State

Stockmoney Lizards suggests a pre-halving consolidation phase, anticipating a dip to $35,000. However, the crystal ball also reveals a potential surge of over 100%, projecting a Bitcoin price around $250,000 within the next 6 months post-halving.

What’s Influencing Bitcoin’s Price?

Behind these predictions are various factors like technical analysis and market sentiment. Currently, Bitcoin is trading at $42,661, showing a 1.9% decrease over the past week. The 24-hour trading volume indicates a 24.1% decline, with the market cap around $835.12 billion.

As we navigate the twists and turns of Bitcoin’s journey, Stockmoney Lizards serves as our guide. Will Bitcoin hit the predicted $250,000 post-halving? Only time will tell