Popular commentator BitQuant has predicted that Bitcoin’s price could surge to as high as $95,000 “in just one move.”
According to BitQuant, Bitcoin’s ascent to that price level is inevitable; the only uncertainty is how long it will take to reach those heights.
However, despite the positive outlook, BitQuant warns Bitcoin hodlers of testing times ahead, advising those with weak nerves to consider leaving the market to avoid potential pain. In their words:
If you can’t relax now and wait for #Bitcoin to perform as expected, then it’s better to leave the market to avoid the torture. Because in the coming months, there will be a lot of pain for those with weak nerves.”
BitQuant’s optimism is echoed by fellow commentator Mikybull Crypto, who identified a “cup and handle” formation on weekly timeframes, indicating a potential breakout to new all-time highs.
Mikybull Crypto believes that once the breakout occurs, it will be explosive and propel Bitcoin into a new price discovery phase.
BitQuant is widely recognized for their remarkably accurate BTC price forecasts. In 2023, they predicted that the cryptocurrency would achieve a new all-time high before the April halving event.
These bullish forecasts come at a time when Bitcoin has been trading in a narrow range, threatening a breakdown towards $50,000.
However, Crypto Trader Daan Crypto Trades is still positive, noting that such price action often precedes a significant market shift.
“Usually when the price action gets worse, the chop is nearing the end”, popular the trader argued in a recent X post. “Shows a lack of participation, lower liquidity and more compression. This is often followed by an explosive move. Up to you to make that bet. Or just wait for confirmation.”
Bitcoin is currently trading at price levels around $62,000, down approximately 13% in the second quarter of the year, according to data from TradingView.
Disclaimer: This report is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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