Bitcoin’s price could surpass $100,000 if Donald Trump wins the US presidential election, according to Michael Terpin, founder of Transform Ventures, as reported by CoinDesk.
“Now that the Bank of Japan has indicated it does not plan further interest rate hikes, and Jump Trading runs out of coins to sell, as happened with Germany a few weeks ago, I see no reason for the price to fall significantly below $50,000,” he stated.
According to the expert, the bull market will continue “along traditional four-year cycle lines” with significant growth in October and November.
“If Trump wins, a surge of new buyers could push Bitcoin’s price above $100,000. […] October and November are historically strong months for Bitcoin, especially in a halving year and the one following it,” Terpin explained.
On August 5, Bitcoin fell below $50,000. By August 9, the digital asset had recovered to over $60,000. At the time of writing, Bitcoin is trading at $60,700.
Earlier, analysts from the cryptocurrency exchange Coinbase attributed Bitcoin’s decline to seasonality. They noted that the digital asset market faced a traditional downward trend for August.