{"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":"<p>Michael van de Poppe, founder of MN Capital, <strong><a href=\"https:\/\/x.com\/CryptoMichNL\/status\/1813612124868063431\" rel=\"nofollow\">predicted<\/a><\/strong> this in a recent post, while other traders noted <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin\u2019s<\/a><\/strong> failure to hit previous highs, with each peak falling short of the last.<\/p>\n<p>Veteran trader and analyst Peter Brandt <strong><a href=\"https:\/\/x.com\/PeterLBrandt\/status\/1813708386363666872\" rel=\"nofollow\">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<p>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<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-133445\" href=\"https:\/\/cryptodnes.bg\/en\/bitcoin-btc-sees-explosive-trading-volume-surge\/\" title=\"Bitcoin (BTC) Sees Explosive Trading Volume Surge\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-42-4-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Bitcoin (BTC) Sees Explosive Trading Volume Surge<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>The recent low of $54,274 on July 5 was the lowest in four months. Despite this, Brandt was optimistic about Bitcoin\u2019s recent recovery to critical support within two weeks, reaching $65,735 on July 17.<\/p>\n<p>While the timing of Bitcoin\u2019s next major rally remains uncertain, some analysts predict it could hit $100,000 before July 2025. Pierre Rochard, vice president of research at Riot Platforms, believes this could happen within the next 12 months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is anticipated to reach $110,000 in its next major rally despite ongoing concerns about a pattern of &#8220;lower highs and lower lows&#8221; on the BTC price chart.<\/p>\n","protected":false},"author":3,"featured_media":87766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[72,294,108],"coin_category":[],"class_list":["post-133447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-etf","tag-price"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin Set to Hit $110,000 in Next Major 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