Bitcoin is preparing for a rally: Analysts have put the final point!

According to crypto analysts, despite the lower peaks and troughs in the Bitcoin chart, the price could reach 110,000 dollars.

Michael van de Poppe, the founder of MN Capital, wrote in a post shared on X on July 17th, "It is likely that the next cycle will take Bitcoin to $110,000." Other traders emphasize that Bitcoin has not reached previous high levels and each new high level is behind the previous one.

Cryptocurrency expert Peter Brandt, in his X post on July 17th, said, "We should not forget that the series of lower peaks and lower troughs continues despite ETF and halving."

Another crypto analyst Van de Poppe, discussed Bitcoin's recent movements in relation to the difficulties faced by Bitcoin miners after the halving in April. Van de Poppe said, "The hashrate drop at the last dip level on July 1 was as sharp as during the FTX collapse."

Since Bitcoin reached its all-time high (ATH) of $73,679 on March 13, it has tested the $71,000 resistance several times but has not yet refreshed its ATH. However, Brandt noted that Bitcoin was influenced by the last price movement, reaching $65,735 on July 17, returning to critical support within a two-week period.

Riot Platforms research vice president Pierre Rochard believes that these developments could occur before July 2025. In a post dated July 17, Rochard wrote, "Bitcoin could reach $100,000 in the next 12 months."

This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.