Bitcoin has been making impressive strides in recent days, breaking through the $124,000 mark to achieve a new record high of $124,128, as reported by CoinGecko. Crypto analyst Stockmoney Lizards, known for their accurate predictions, suggests that Bitcoin is now on the verge of a significant breakthrough that could propel its value above $300,000 by 2026. Stockmoney Lizards recently shared a detailed analysis on social media, highlighting Bitcoin’s long-term trend and projecting a bullish trajectory. According to the analyst, Bitcoin has been following an upward trajectory within a rising parallel channel since 2012, with key cycle tops touching the upper resistance line of the channel. The current phase is deemed critical as Bitcoin’s price approaches the midline of the channel, indicating a potential for a substantial upward movement similar to the notable bull runs of 2018 and 2021. Additionally, the analyst pointed out a bounce on the oscillator at the chart’s bottom, a pattern observed before significant rallies in previous years, leading to a projected price target of $180,000 to $200,000 by early 2026. While acknowledging Bitcoin’s evolving market behavior, Stockmoney Lizards anticipates a phase of heightened retail interest that could trigger a frenzy in the market, propelling Bitcoin towards the $300,000 mark. The analyst’s chart projections even suggest a potential price target as high as $350,000, signaling a promising outlook for the cryptocurrency’s future growth. Bitcoin has already seen a remarkable 107% increase in the past year, driven by factors such as expectations of Federal Reserve rate cuts and increased regulatory support for cryptocurrencies in retirement plans. With the potential for further growth, a surge to $300,000 or $350,000 by 2026 would represent a significant 145% to 188% increase from its current trading price. As of the latest update, Bitcoin is trading at $121,685, showing a 1.8% increase over the past 24 hours. Despite a slight retracement from its recent peak, the cryptocurrency continues to demonstrate strong upward momentum, setting the stage for a potentially lucrative future for investors.
Bitcoin on Track to Hit $300,000 Following Bullish Trend Analysis
