Analysis: Bitcoin could rise to $110,000 in next rally

Odaily News Michael van de Poppe, founder of MN Capital, said 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 occurrence of halving, ETF and other related hot events, Bitcoin's pattern of forming lower highs and lower lows continues." Van de Poppe does not seem to be so worried. He linked the recent volatility of Bitcoin prices to the difficulties faced by miners due to rising operating costs and reduced mining rewards after the Bitcoin price halved in April. He said: "At the last low on July 1, the real computing power decline was as severe as during the FTX crash." (Cointelegraph)