Analysis: Jump Trading's selling pressure has eased, and BTC is unlikely to drop below $50,000

ChainCatcher news, according to CoinDesk, Transform Ventures founder Michael Terpin stated that, as the Bank of Japan indicated it would not raise interest rates further and the selling pressure from Jump Trading gradually subsides, BTC is unlikely to fall below $50,000.

Regardless of how the next 60 days unfold, the bull market will continue along the traditional four-year cycle line, achieving steady growth in October and November. If Donald Trump wins the U.S. presidential election in November, BTC could even rise above $100,000.