{"id":133447,"date":"2024-07-18T22:40:29","date_gmt":"2024-07-18T19:40:29","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133447"},"modified":"2024-07-18T22:40:46","modified_gmt":"2024-07-18T19:40:46","slug":"bitcoin-set-to-hit-110000-in-next-major-rally","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-set-to-hit-110000-in-next-major-rally\/","title":{"rendered":"Bitcoin Set to Hit $110,000 in Next Major Rally"},"content":{"rendered":"

Michael van de Poppe, founder of MN Capital, predicted<\/a><\/strong> this in a recent post, while other traders noted Bitcoin\u2019s<\/a><\/strong> failure to hit previous highs, with each peak falling short of the last.<\/p>\n

Veteran trader and analyst Peter Brandt pointed out<\/a><\/strong> that the sequence of lower highs and lower lows continues despite significant events like the halving and ETF developments. Van de Poppe linked Bitcoin\u2019s recent price volatility to the challenges faced by miners, including rising operational costs and reduced mining rewards post-halving in April. He noted that the recent hashrate drawdown was as severe as during the FTX collapse.<\/p>\n

Since reaching its all-time high of $73,679 on March 13, Bitcoin has breached the $71,000 mark multiple times but hasn\u2019t reclaimed its record price. In July, Bitcoin saw nine consecutive days without breaching the $60,000 level, a streak not seen since Feb. 28.<\/p>\n