Pseudonymous crypto trader Stockmoney Lizards analyzed Bitcoin's BTC/USD post-halving performance, pointing out that the "boring sideways movement" does not equate to bearish sentiments.
What Happened: The trader predicted in a thread on X Bitcoin's price to peak around September to October 2025, with a personal price target between $200,000 and $260,000.
For Q4 of this year, the price target is around $100,000 based on a classic bull flag. He forecasts an “Uptober coming” as BTC closed the week with a bullish signal line crossing on the RSI.
The trader highlighted the Federal Reserve’s recent 50 basis points interest rate cut, the first since 2020, as a short-term bullish indicator. Ongoing geopolitical conflicts, such as the escalating Middle East conflict and the Russia-Ukraine war, were identified as bearish risks for the markets.
Despite geopolitical conflicts, Stockmoney Lizards believes that Bitcoin is entering strong bullish territory, emphasizing the importance of having a plan during a bull market to avoid poor decisions.
Stockmoney Lizards also pointed to the resurgence of ETFs buying Bitcoin after the summer pause, controlling 4.73% of the current BTC supply. He expects this trend to accelerate in the coming months.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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