Popular Analyst Says Bitcoin is Ready to Surpass $100,000 Only One Step Left
Popular cryptocurrency analyst Michaël van de Poppe pointed to Bitcoin (BTC) surpassing $100,000.
In his July 17 post on X, Michaël van de Poppe pointed to Bitcoin reaching $110,000.
The analyst noted that Bitcoin miners’ hashrate levels fell to their lowest since the FTX collapse on July 1, suggesting that this level is likely the bottom of the current bull cycle.
Despite the selling pressure created by Mt. Gox, he reminded that Bitcoin has risen by 20% during this period.
The analyst stated that the next leg would take Bitcoin to the $110,000 range with the following words:
“Bitcoin miner hashrate hit one of its lowest levels on July 1, as severe as during the FTX collapse. This drop indicated the bottom of this cycle. Since the Mt. Gox news, Bitcoin’s price has increased by 20%.
The next leg is likely to take Bitcoin to $110,000.”
According to CoinGecko data, Bitcoin has increased by 0.1% in the last 24 hours and is trading at $64,700 at the time of writing.
Note: This is not investment advice
