Bitcoin is struggling to restart its long-term bull market, but one analyst believes we are only days away before another all-time high of $80k is achieved. BitQuant, the technical influencer in question, doesnât stop at that and believes that there is a good chance the crypto asset will reach as high as $95k in a month.
Several updates for those here to build generational wealth and not involved in day trading:1. Yes, #Bitcoin is going to $95K.2. Yes, $95K will extend to June, but the sharp decline from this local top will also occur in June, so the overall timeline for this local top hasnât⊠pic.twitter.com/VFvMweBVbs
â BitQuant (@BitQua) May 22, 2024
Upon closer scrutiny of the tweet, the analyst admits that the cryptocurrency may record a price correction after going close to the coveted $100k figure in June. At the end of the tweet, he conveniently states that he doesnât trade local tops, so he wonât be selling his Bitcoin next month even if he records this considerable price gain.
What do Other Analysts Say?
BitQuant is part of a group of Bitcoin proponents on X who believe a healthy price rally is imminent in the coming weeks. However, not all analysts share this rosy picture; some even call for BTC to struggle for a short while before resuming the long-term bull market. Michael Von de Poppe, a more popular crypto trader, believes BTC may remain within $67.5k-$68k. He even called on the market to register short-term price corrections followed by rebounds in the near future.Â
Others, including Willy Woo, are less clear about their predictions for June. However, Woo tweeted that it was âonly a matter of time before BTC recorded a new All-Time High above $73k.
While everyone was freaking out that #Bitcoin price was not rising the last 2 months, available BTC was quietly being scooped up, and importantly without paper BTC printed in its place.Last time I'll say it⊠It's only a matter of time before BTC squeezes past all-time-highs. https://t.co/j2FJs7bSpc pic.twitter.com/HoPSSJfHqz
â Willy Woo (@woonomic) May 22, 2024
So, a move at least to $80k is not being ruled out by any crypto analyst right now, but BitQuantâs prediction of $95k within weeks is on the overly optimistic spectrum.
