According to Odaily Planet Daily, Transform Ventures founder Michael Terpin said that BTC is unlikely to fall below $50,000 as the Bank of Japan has stated that it will not raise interest rates further and the selling pressure from Jump Trading has gradually subsided.

Whatever the next 60 days hold, the bull market will continue to move along the traditional four-year cycle line, with solid gains in October and November.

BTC could even rise above $100,000 if Donald Trump wins the US presidential election in November.