“Bitcoin bulls will intensify in the coming months”

With the leading cryptocurrency Bitcoin (BTC) rising above $60,000 again, bulls have become more eager. Crypto analysts have given signals that a new bullish cycle has begun.

BTC has achieved one of the biggest single-day percentage gains in recent months. BTC has gained over 5 percent in the last 24 hours.

With the rise in BTC, approximately $100 million worth of bearish transactions in futures were liquidated. This liquidation was the fourth biggest blow to short (bearish) traders in BTC this year.

Transform Ventures founder Michael Terpin stated that the groundwork for a bull run has been formed with the recent rise.

Transform Ventures founder Michael Terpin discussed the agenda in an email he sent to CoinDesk. Terpin commented on the Bitcoin rise in terms of markets.

“Since the Bank of Japan has indicated that it will not raise interest rates any further and Jump Trading has no coins to sell like it did in Germany a few weeks ago, I do not think the price will fall much below $50,000 (barring a sharp drop), perhaps never again,” Terpin said.

The crypto expert attributed the gains to positive market sentiment and the expectation of a BTC rally. Crypto investors have long been expecting a halving and ETF-driven rally.

Terpin suggested that the crypto bull will continue with solid gains in October and November, during which time the traditional four-year bull cycle line will be realized.

Referring to the US presidential election, Terpin said, “If Donald Trump wins, the influx of new buyers could push the BTC price above $100,000.”

The rise in #BTC has boosted the largest cryptocurrencies by market cap. #Ether (ETH) and #TONCOİN (TON) are up 10 percent. #Solana (SOL) and #Cardano (ADA) are up 5%. XRP, on the other hand, has made an impressive rise since winning the case.