Bitcoin (BTC) Price May Hit $95,000 in June, Says an Analyst: But How?

The post Bitcoin (BTC) Price May Hit $95,000 in June, Says an Analyst: But How? appeared first on Coinpedia Fintech News

The varying market trends have differed in the price targets of the cryptos, specifically the star crypto, Bitcoin. While the market participants were waiting for the levels to drop to $55,000, a massive rebound caused the price to stack up close to $72,000. Now that the levels have been consolidated finely along the gains, the expectation of reaching higher targets has emerged. 

The BTC price, which is accumulating gains just below $70,000, is expected to leap far beyond $72,000. Does this upswing certify the ascending trajectory of the price rally? If yes, when will the Bitcoin price reach $100K? 

These are quite a few common and heavily searched queries in recent times, as the $100K price target remains unchanged regardless of the ongoing market variations. Hence, a popular analyst, anonymously known as BitQuant shares updates on the BTC price rally in the long term. 

First and foremost, referring to the above chart, the analyst mentions firmly that the BTC price is going to reach $90,000 in June. The trend has been ranging as per the plan and if it continues, then the levels may reach $80,000 before the end of this month. However, the analyst also predicts a sharp decline may follow, which may also occur in June itself. 

Considering the current trading scenario, the Bitcoin price is stuck below $70,000, failing to reach the key resistance at $72,500. This level has become extremely important for the price to keep up the bullish trend, as the bears have often slashed prices hard after achieving these levels. Hence, validating a strong presence around these levels. 

Once, the BTC price manages to breach these levels, a new ATH above $75,000 may be imminent. Hence, the next few days until the weekend may be pretty crucial, as the rally is required to maintain a strong upswing if it has to reach the targets set by the analyst.