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2024-07-19 02:13:21

goozerin on Nostr: 🧨 Bitcoin could soon reach $110,000 according to crypto experts. ...

🧨 Bitcoin could soon reach $110,000 according to crypto experts.



Despite disagreements about the timing, Michael van de Poppe of MN Capital predicts, "The next surge will catapult Bitcoin to $110,000," as per his X post on July 17. However, some experts note that Bitcoin has struggled to regain previous highs, with Peter Brandt commenting on the same day, "The trend of lower highs and lower lows continues despite halvings, ETF approvals, and hype."

Van de Poppe remains optimistic, attributing the current volatility to difficulties faced by Bitcoin miners post-halving, with increased operational costs and decreased mining rewards. "The real hashrate drop on July 1 was as SEVERE as during the FTX collapse," he notes.



Bitcoin reached a record high of $73,679 on March 13, but subsequent attempts have failed to surpass $71,000. There was a significant dip to $54,274 on July 5, marking the lowest in four months, according to CoinMarketCap data.

Nonetheless, Brandt is "impressed" by Bitcoin's recent rebound, which saw it reclaim significant support and rise to $65,735.

While the timing of the "next surge" remains unclear, some analysts envision the $100,000 mark being breached possibly within the next 12 months, as suggested by Pierre Rochard of Riot Platforms on July 17.

Conversely, crypto trader Marco Johanning is less optimistic, believing Bitcoin will not hit $100,000 soon but rather adjusting his forecast to a lower range of $81,000 to $94,000 due to recent lows.

#bitcoin #crypto #invest #money #trading #bitnewstoday
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