Analysis: Bitcoin may rise to $110,000 in the next rebound

ChainCatcher news, MN Capital founder Michael van de Poppe stated that Bitcoin could rise to $110,000 in the next major rebound.

However, veteran trader and analyst Peter Brandt noted: "It should be noted that despite the halving, ETF, and other related hot events, the pattern of Bitcoin forming lower highs and lower lows continues."

Van de Poppe doesn't seem too worried; he linked the recent fluctuations in Bitcoin's price to the difficulties faced by miners due to rising operational costs and the reduction in mining rewards after the Bitcoin halving in April, stating: "At the last low on July 1, the actual hash rate drop was as severe as during the FTX collapse."