The well-known commentator BitQuant predicts that the price of Bitcoin (BTC) will reach 95,000 dollars in a single move. However, the timing of this increase remains uncertain
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Table of Contents:
BitQuant forecasts
Optimism About the Price of BTC
In a recent post on X, dated May 15, BitQuant reaffirmed its confidence in the future of the BTC/USD price. According to him, reaching 95,000 dollars is only a matter of time
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“It’s pretty obvious that 95K will be reached in a single move,” BitQuant wrote. “Will this move start today, tomorrow, or the day after tomorrow? No one can say for sure.”
Mikybull Crypto Analysis
BitQuant responded to Mikybull Crypto‘s analysis, which identified a ‘cup and handle’ formation on the weekly charts. This structure foresees a consolidation phase followed by a reversal and a subsequent recovery of the upward trend
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Mikybull Crypto agrees that this breakout will lead to a new BTC price discovery.
“The breakout will be explosive and will lead to a cyclical maximum,” Mikybull Crypto wrote in a May 14 post.
Historical Forecasts and Market Considerations
BitQuant Past Forecasts
BitQuant is known for its accurate Bitcoin price predictions. In 2023, he correctly predicted a new all-time high for BTC/USD before the April block halved
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Shared Opinions
BitQuant and Mikybull Crypto aren’t alone in their optimism. Although Bitcoin has been in a tight range for more than a month, some experts see positive signs for the future
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“Usually, when the price action worsens, the chop is near the end,” noted trader Daan Crypto Trades. “It shows a lack of participation, less liquidity and more compression. This is often followed by an explosive movement.”
Tips for Bitcoin Hodlers
BitQuant warned that the coming months could be difficult for those with weak nerves. He suggested leaving the market if you are not ready to face the expected volatility
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“If you can’t relax now and wait for Bitcoin to behave as expected, it’s best to leave the market to avoid the torment,” concluded BitQuant. “In the coming months, there will be a lot of suffering for those with weak nerves.”
Current Market Situation
BTC/USD was trading around $62,000 at the time of the post, still down about 13% in the second quarter so far.
