{"id":51256,"date":"2024-07-19T01:46:00","date_gmt":"2024-07-19T01:46:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-price-prediction-110k-cryptocurrency-trading-all-time-highs"},"modified":"2024-07-19T03:32:08","modified_gmt":"2024-07-19T03:32:08","slug":"bitcoins-next-leg-could-hit-110k-despite-lower-highs-and-lower-lows","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51256","title":{"rendered":"Bitcoin\u2019s next leg could hit $110K, despite \u2018lower highs and lower lows\u2019"},"content":{"rendered":"

<\/p>\n

Bitcoin could jump to $110,000 on its next major rally, despite concerns of \u201clower highs and lower lows\u201d forming as a pattern on the BTC price chart, according to crypto traders.<\/p>\n

\u201cThe next leg is likely to bring Bitcoin to $110K,\u201d founder of MN Capital Michael van de Poppe wrote in a July 17 post<\/a> on X. It comes while other traders point out that Bitcoin (BTC) is failing to reach previous highs, with each new high falling short of the last.<\/p>\n

\u201cIt should be noted that the sequence of lower highs and lower lows continues despite the halving, despite the ETF, despite the hype,\u201d veteran trader and analyst Peter Brandt stated in a July 17 post on X.<\/p>\n

\"\"
Source: Peter Brandt<\/em><\/figcaption><\/figure>\n

Van de Poppe doesn\u2019t seem as concerned, linking the volatile price of Bitcoin in recent times to the struggles faced by Bitcoin miners due to the rising operational costs and reduced mining rewards following the halving in April.<\/p>\n

\u201cThe true hashrate drawdown at its last low on July 1st was as HEAVY as during the FTX collapse,\u201d Van de Poppe stated.<\/p>\n

Since Bitcoin reached its all-time high of $73,679 on March 13, it has breached the $71,000 mark several times but has yet to reach its record price again.<\/p>\n

There were also nine consecutive days in July when Bitcoin failed to breach above $60,000, which hadn\u2019t happened since Feb. 28. Bitcoin\u2019s recent low of $54,274 on July 5 was the lowest price the asset faced in four months, according to CoinMarketCap.<\/p>\n

Bitcoin is down 1.65% over the past 30 days. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n

However, Brandt said he was \u201cimpressed\u201d by Bitcoin\u2019s recent price rebound which saw it falter then recover back to critical support within a two-week period, reaching $65,735 on July 17.<\/p>\n

While \u201cthe next leg\u201d has an ambiguous timeline, other analysts are offering slightly more certainty regarding when Bitcoin will breach the $100,000 mark.<\/p>\n

Riot Platforms vice president of research Pierre Rochard believes it could happen at some point before July 2025. \u201cBitcoin could go to $100,000 over the next 12 months,\u201d Rochard wrote in a July 17 X post.<\/p>\n

Other traders are more conservative.<\/p>\n

Crypto trader and investor Marco Johanning suggests Bitcoin will not go to $100,000, \u201cat least not this time,\u201d offering a prediction nearly 19% lower.<\/p>\n

\u201cThe new low at 53.4k changes the targets for Bitcoin to 81k or 94k,\u201d he added.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin could jump to $110,000 on its next major rally, despite concerns of \u201clower highs and lower lows\u201d forming as a pattern on the BTC price chart, according to crypto traders. \u201cThe next leg is … Bitcoin\u2019s next leg could hit $110K, despite \u2018lower highs and lower lows\u2019<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51259,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3656,3812,5652,159,6967,6968],"class_list":["post-51256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-btc-news","tag-cryptonews","tag-emilynews","tag-hyipnews","tag-tap-bots","tag-telegram-tap-bots","exalt-entry"],"yoast_head":"\nBitcoin\u2019s next leg could hit $110K, despite \u2018lower highs and lower lows\u2019 - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51256\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin\u2019s next leg could hit $110K, despite \u2018lower highs and lower lows\u2019 - 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