Analyst Who Predicted BTC All-Time High Pre-Halving, Claims Bitcoin Will Surpass $95k by May

Crypto analyst, BitQuant recently forecasted that Bitcoin would rise to at least $95,000 by the end of May 2024. The analyst also stated that his previous forecasts attracted adverse reactions from followers on X and the crypto community.

However, these forecasts turned out to be correct, prompting him to make the latest prediction.

BitQuant Tips Bitcoin to Trade Close to $100,000 Level Before June

BitQuant predicted that Bitcoin would rise to $40,000 when trading at $25,000. However, he claimed that the bearish traders in the market tagged him as being irresponsibly bullish.

Also, he recalled his previous forecast of BTC rising to $60,000 when it dropped to the $17,000 bottom. According to the analyst, this prediction caused some followers on social media to unfollow his account.

He precisely predicted that Bitcoin would reach a new all-time before the next halving, which still attracted adverse reactions.

Despite the constant backlash from followers, BitQuant shared another prediction that Bitcoin will rise to at least $95,000 by the end of May 2024.

Also, he stated his preparedness for any adverse reactions that will arise regarding this latest prediction. The analyst noted that $100,000 is a psychological barrier for Bitcoin, and once it is breached, the price will soar.

$100k is a psychological barrier. When we break it, the Bitcoin price will soar.

- BitQuant (@BitQua) March 24, 2024

Also, BitQuant responded to a follower who expressed appreciation for the analyst and stated that he posts targets and timeframes to reach the targets.

However, he noted that the targets are not followed blindly, and the charts are updated weekly. So, he urged his followers to apply logic and not to blindly believe any analysis for more than a year when a week is enough to determine whether the prediction will work.

Meanwhile, BitQuant noted that he remains realistic about what is to come. While most people believe the climax for this Bitcoin cycle is $80,000, he prefers a short-term price target of $95,000.

Finally, the analyst stated that his prediction would seem extremely bullish to the sellers in the market and that they would need sufficient time to adjust.

How is BTC Faring Today?

BTC is trading in a sideways trend today as buyers and sellers struggle to regain market control.

Remarkably, Bitcoin has rallied from the recent slump to trade above $67,000 after finding support at the $63,661 price level. This support level was a price pivot, leading to its present recovery rally.

However, BTC is still trading below the upper Bollinger Band (BB), indicating that the sellers are still active in the market, limiting its gains.

Also, the RSI indicator is moving sideways in the neutral zone with a value of 54.98. This confirms that the sentiment for Bitcoin today is neutral, with the buyers and sellers evenly matched.

As such, Bitcoin's sideways trend will likely continue in the coming days till it overcomes the $68,038 resistance level.

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