bitcoin's rise above $69,000 ahead of the fourth halving to hit a new all-time high of $73,000 in 2024 took many by surprise. However, crypto analyst BitQuant was not one of those people. In 2023, the analyst had correctly predicted that the btc price would reach a new all-time high before the halving was completed. After successfully completing his prediction, the crypto analyst has once again predicted where the price of bitcoin is headed and how high it will go.
crypto Analyst Says bitcoin Price Will Reach $95,000
BitQuant has presented its latest x.com/BitQua/status/1790624345573740855″ rel=”nofollow”>prediction for the price of bitcoin, and the target shown will please many who remain bullish. Amid the choppy headwinds that have dominated the market, the analyst believes that the price of bitcoin will rise and reach $95,000.
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Interestingly, the analyst does not expect the campaign towards $95,000 to be a long, drawn-out move. Rather, BitQuant explains that bitcoin price can complete this goal with a single move. Such a move would mean a 50% increase in price from its current level of around $62,000 and will undoubtedly trigger a domino effect that will be evident in the market.
The post said:
You'll get $95,000 in one move, and that's pretty obvious. Will that movement begin today, tomorrow or the day after tomorrow? I don't think anyone knows. If you can't relax now and wait for #bitcoin to perform as expected, then it's best to exit the market to avoid torture. Because in the coming months there will be a lot of pain for those with weak nerves.
BitQuant's prediction was in response to another crypto analyst, Mikybull, who x.com/MikybullCrypto/status/1790417234893865214″ rel=”nofollow”>identified the formation of a 'cup and handle' pattern in the decline of bitcoin. The analyst believes that this formation will precede a massive breakout that will send it to a “cycle peak.”
Is $250,000 still at stake?
In 2023, when BitQuant made the initial prediction that bitcoin would hit a new all-time high before the halving, it had set a price target for the cryptocurrency. As the cryptanalyst explained at the time, reaching a new all-time high before the halving, although it had never happened before, does not mean that it will peak by then.
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Rather, the analyst expects the bullish rally to continue long after the halving, which is when the price will peak. BitQuant's goal at the time was for the price to reach a high of $250,000 at the top of the cycle. However, this target has not appeared in their analyzes in recent times.
The most recent predictions are around the target of $95,000 and the analyst expects it to reach this price in May. In a prediction from April, BitQuant expects the price to first rise to $49,000, before recovering to $75,000, and then rising to $95,000.
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First $49 thousand,
Then $75 thousand,
Now $95k.
What's next will be revealed after we reach $95,000 and take a short break in the store. twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw” rel=”nofollow”>#bitcoin https://t.co/yvKyHZZWQw
—BitQuant (@BitQua) twitter.com/BitQua/status/1783546364107890728?ref_src=twsrc%5Etfw” rel=”nofollow”>April 25, 2024
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