Bitcoin Price to Explode to $95,000 ‘In Just One Move,’ Says Top Analyst Who Predicted Recent All-Time High

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As a seasoned crypto investor with a few years under my belt, I can’t help but be intrigued by the latest price prediction from popular trader BitQuant. His belief that Bitcoin will surge to $95,000 in just one move is certainly an enticing prospect. However, as someone who has weathered the volatility of this market before, I also understand the potential for pain and uncertainty that comes with it.

A well-known cryptocurrency trader, who has correctly forecasted Bitcoin‘s previous record-breaking price increase prior to its halving event, now asserts that Bitcoin’s value could skyrocket to a stunning new height of $95,000 in a single price surge.

In a recent exchange on microblogging platform X, the analyst advised a well-known cryptocurrency trader that the exact moment for Bitcoin’s anticipated move is unclear. For those who find it difficult to be patient and wait for Bitcoin to follow its expected course, the analyst recommended considering an exit from the market to spare themselves unnecessary stress.

Per his words, in the coming months “there will be a lot of pain for those with weak nerves.”

Reaching the $95,000 mark is a simple step, yet its exact timeline remains uncertain. Is this move going to initiate today, the next day, or even later? The answer is elusive. For those who find it difficult to stay patient and trust #Bitcoin’s course of action, it might be wiser to steer clear of the market to prevent potential losses.

— BitQuant (@BitQua) May 15, 2024

Trader Milkybulll Crypto posted a chart showing a potential cup and handle reversal pattern on Bitcoin’s weekly chart for over 60,000 of their followers. They predicted that this pattern would result in a significant breakout, leading Bitcoin to reach a new cycle high.

The “cup with handle” pattern on a chart represents a technical analysis tool where a “u-shaped cup” formation occurs, followed by a slight price decrease, forming what’s known as the “handle.” This pattern was initially identified by American stock market analyst William J. O’Neil, and according to Investopedia, it is considered a bullish sign.

At the same time, renowned cryptocurrency analyst Rekt Capital announced that Bitcoin’s price prediction no longer falls within the “risk area” following the halving. Notably, Bitcoin’s value experienced a substantial rebound from the lower boundary of its Re-Accumulation Range support.

According to Rekt Capital’s analysis, the upcoming months of this year might not bring anything particularly notable for Bitcoin. However, they cautioned that there are only a few “unremarkable” months left before Bitcoin enters its parabolic growth phase.

Institutionally, there’s a growing trend of investors entering the crypto market. The U.S. state of Wisconsin took the lead by being the initial government entity to publicly announce its investment. In Q1 2023, they purchased approximately 94,562 shares in BlackRock’s iShares Bitcoin Trust (IBIT), valued at around $100 million.

Wisconsin’s recent action puts it on par with major financial players like JPMorgan Chase and Wells Fargo, as reported in 13F filings, by investing in Bitcoin spot exchange-traded funds, disclosing their exposure to the cryptocurrency market.

As a researcher studying investment activities of various financial institutions, I came across some interesting disclosures recently. JPMorgan reported an investment worth $731,246 in BlackRock’s IBIT ETF, Bitwise’s BITB, Fidelity’s FBTC, and Grayscale’s GBTC. Meanwhile, Wells Fargo revealed a holding of $141,817 in GBTC. Similar disclosures have also been made by BNP Paribas and BNY Mellon.

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2024-05-16 02:03