Bitcoin

Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) will hit $95,000 “in just one move” — only the timing is uncertain, says a new bullish BTC price outlook.
In his latest <a href="https://twitter.com/BitQua/status/1790624345573740855" target="_blank" rel="noopener nofollow">post</a> on X&nbsp;on May 15, popular commentator BitQuant doubled down on his optimism on BTC/USD.
<h2 data-ct-non-breakable="true" id="bitquant-quite-obvious-btc-price-will-shoot-to-95-000">BitQuant: “Quite obvious” BTC price will shoot to $95,000</h2>
Bitcoin is preparing to continue upward, and it should reach a record $95,000 and set new all-time highs.
According to BitQuant, such dizzying BTC price levels are a matter of time — it just remains to be seen how much is required.
“$95K will be achieved in just one move, and that is quite obvious,” he wrote. 
<blockquote data-ct-non-breakable="true">
 “Will that move start today, tomorrow, or the day after tomorrow? I don’t think anyone knows.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/72f9047f-f89a-4789-8d40-f951b64bf779.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USD chart with “cup and handle” formation. Source: Mikybull Crypto
 </figcaption>
</figure>
BitQuant was responding to <a href="https://twitter.com/MikybullCrypto/status/1790417234893865214/photo/1" target="_blank" rel="noopener nofollow">analysis</a> from fellow commentator Mikybull Crypto, who spied a so-called “cup and handle” formation playing out on weekly timeframes.
The structure consists of a consolidatory phase following a strong run-up, a reversal and a subsequent breakout higher.
Mikybull Crypto agrees that the result will be a return to BTC price discovery.
“The breakout will be explosive and will send it to a cycle top,” he wrote in part of X commentary on May 14.
<h2 data-ct-non-breakable="true" id="bitcoin-trader-considers-explosive-move">Bitcoin trader considers “explosive move”</h2>
BitQuant is known for his&nbsp;<a href="https://cointelegraph.com/news/bitcoin-price-80k-stablecoin-growth-bitwise-invest-crypto-prediction">BTC price forecasts</a>.&nbsp;In 2023, he&nbsp;<a href="https://cointelegraph.com/news/bitcoin-price-prediction-all-time-high-precede-2024-halving">successfully predicted</a> a new all-time high for BTC/USD before April’s block subsidy halving.
Related: <a href="https://cointelegraph.com/news/cpi-60k-btc-price-battle-5-things-bitcoin-this-week">CPI meets $60K BTC price battle — 5 things to know in Bitcoin this week</a>
He and Mikybull Crypto are also not alone in their convictions. As Cointelegraph reported, not everyone is negative <a href="https://cointelegraph.com/news/bitcoin-fed-powell-trader-65k-btc-price-level">about where Bitcoin might head next</a>&nbsp;despite being trapped in a narrow range for more than a month and threatening a <a href="https://cointelegraph.com/news/bitcoin-price-correction-common-56k-lows-hold-peter-brandt">breakdown toward $50,000</a>.
“Usually when the price action gets worse, the chop is nearing the end,” popular trader Daan Crypto Trades <a href="https://twitter.com/DaanCrypto/status/1790305185220252132" target="_blank" rel="noopener nofollow">argued</a> in part of his own recent X content. 
<blockquote data-ct-non-breakable="true">
 “Shows a lack of participation, lower liquidity and more compression. This is often followed by an explosive move.”
</blockquote>
BitQuant meanwhile predicts testing times for Bitcoin hodlers as a new trend makes itself known.
“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,” he concluded. 
<blockquote data-ct-non-breakable="true">
 “Because in the coming months, there will be a lot of pain for those with weak nerves.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/0afe6f53-3cb6-4c98-a170-ce2fa19054ce.png" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart. Source: TradingView
 </figcaption>
</figure>
BTC/USD traded at around $62,000 on the day, per data from <a href="https://subscription.cointelegraph.com/">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener nofollow">TradingView</a>, still down by around 13% in Q2 so far.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoiner who called pre-halving all-time high predicts $95K BTC price

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