According to ChainCatcher, Michael van de Poppe, founder of MN Capital, said that Bitcoin could rise to $110,000 in the next major rally.
However, veteran trader and analyst Peter Brandt said: “It should be noted that despite the halving, ETF and other related hot events, Bitcoin’s pattern of forming lower highs and lower lows continues.”
Van de Poppe didn’t seem that worried, as he linked the recent volatility in Bitcoin prices to the difficulties faced by miners due to rising operating costs and reduced mining rewards after the Bitcoin price halving in April. “At the last low on July 1, the real hash rate drop was as severe as during the FTX crash,” he said.
