The unexpected rise of Bitcoin to over $69,000 before the fourth halving, eventually reaching a new all-time high of $73,000 in 2024, surprised many. However, crypto analyst BitQuant had predicted this surge back in 2023. Now, BitQuant has forecasted that Bitcoin’s price will reach $95,000, pleasing the bullish investors in the market.
BitQuant believes that Bitcoin will quickly reach the $95,000 target in a single move, representing a 50% increase from its current price of around $62,000. This surge is expected to have a significant impact on the market, triggering a ripple effect. In response to another analyst’s observation of a ‘cup and handle’ pattern on the Bitcoin crash, BitQuant anticipates a massive breakout leading to a “cycle top.”
While BitQuant previously set a target of $250,000 for Bitcoin’s price peak, recent analyses focus on the $95,000 target. The analyst predicts that Bitcoin will first reach $49,000, then recover to $75,000, before surging to $95,000. The timeline for this price movement is expected to unfold in May according to BitQuant’s projections.