Blockware Intelligence analysts believe that the BTC market needs higher volatility to attract new players

The main cryptocurrency may show another historical high as early as next month, and then rise in price to $100,000 by the American presidential election in November. This scenario was voiced by Standard Chartered.

The feasibility of the forecast depends on Joe Biden’s performance in the upcoming elections. At the same time, many experts believe that Donald Trump, who has become a Bitcoin supporter, has a greater chance of winning.

“The logic here is that both regulation and mining would be looked at more favourably under Trump. […] Bitcoin will provide a fantastic buying opportunity,” the report says.

In the “least likely” case of Biden dropping out of the race at the end of this month, the value of BTC could fall to $50,000-$55,000, analysts suggested.

Blockware Intelligence believes that the first crypto coin must overcome the $65,000 mark to continue the rebound from the previous month’s low. Analysts indicated that short-term BTC holders’ wallets are in the red and could be liquidated as they approach the $65,000 breakeven level.

“Last summer, under similar circumstances, the price remained in a sideways trend for another two months before breaking out again,” experts noted.

The wallets of long-term cryptocurrency holders with assets under $20,000 are incentivized to maintain or increase their holdings of digital coins. For them, the current depreciation of 15% from the historical maximum in March of this year is not something out of the ordinary, experts say.

Blockware Intelligence believes the market needs higher volatility to attract more investors. Experts noted that innovations in the regulation of the crypto industry in the United States and the publication of macroeconomic data could play a significant role in the growth of Bitcoin prices.