Michael Terpin, known as the 'Crypto Godfather' and a veteran bitcoin investor, believes that bitcoin hasn’t hit its lowest point. He forecasts a dip to around $57,000 this October and thinks there won't be any new all-time highs this year.
Analysts are divided on this. Some caution that due to tight liquidity, rising interest rates, and the lack of a significant market shakeout or deep negativity, we might see more declines. On the flip side, there are others who argue that if institutions keep adopting bitcoin, we could still see it hit a record high this year.
What’s your take on this? I get that analysts always have different views since some think bitcoin will drop more, while others are optimistic about its rise.
I kind of lean towards Terpin's viewpoint, but I really believe that if bitcoin dips below $60,000, that’ll be its lowest point and it won’t take long to bounce back above that mark.
I 100% agree with this prediction, this certainly a prediction from someone who still believes in bitcoin historical trend over other analysis. Personally I have long time predict far more lower price than this as my low, in fact I predict a 60% fall from the current ATH and $57k is just simply around 55% from that ATH, even though the bitcoin volatility is actually reducing the market is still early that it can experience this particular fall.
Now should bitcoin fall this low I think we could even go the whole of not just 2026 without getting a new ATH but also the whole of 2027 too just like it happens historically.
It is very possible that bitcoin will not get to all time high in 2027 but the market will be very good for people. You will see some altcoins pumped and bitcoin price will not be at a very low price. I am expecting bitcoin to first fall a little in 2027 and later it will increase and it can get to $90000 or $100000. What I am saying is that bitcoin may not get to all time high in 2027 but it will not be at a low price either.
If we believe history of bitcoin's price action could repeat itself and follow the same exact pattern, it could actually go even lower, around $40k but the previous cycle bearish season was amplified by the collapses of big exchanges and stablecoins. I expected this time around to be better without all those black swan and therefore $57k makes the most sense since we got institutional investors who hold long term as well.
I definitely agree with him, we should never turn a blind eye to the possibility that the price could be going even lower.
My opinion will not be entirely different from his even if it's a direct opposite of what he believes in but at the end, it's only time that will tell wether either of us is correct regarding our statement. And then, being an OG investor doesn't mean that whatever opinion you hold will be correct because what truly matters is what's happening at the present and not what has happened in the past only.
I'm still bullish that this year will at least produce a new all time high. It's already showing that theirs an high level of possibility that such will happen, it is just going to be a matter of time and it will eventually happen. In-between that time, a lot of speculation will happen and that's just a part of the process.
I think well see lower lows for the rest of the year, so I agree with his view, but Im open to the possibility that Bitcoins price might surprise me on the upside. In fact, Id like that. As for the figures, its hard to pinpoint exactly where the bottom will be, and anyone who gets it right will do so more by chance than by predictive ability, but I think its most likely that well see lower prices for the rest of the year.
That could be right but that also could be wrong. He can predict but no one knows what happens next. No matter what people say especially popular people, you don't have to believe in 100% but do your own research and prepare.
That is you can do to act based on the situation and not panic if the price really down a lot. Maybe before the price drops, the price will once again rise higher and get dump for some years, preparing for the next ATH. But I feel the price could drop below $60k although I hope that will not happens.
Like I said historically bitcoin will follow the past trend and the only difference will be that it will have less volatility. The bottom of this cycle will he reached this year as according to the past trend and thats my target of bitcoin coming down to region below $60k (~55% dump from ATH) and then the 2027 will be more of recovery year as bitcoin will start recovering and yes there is high possibility that it will definitely get to $100k but not creating a new ATH.
As for altcoin pumping, thats not the discussion on this topic but as usual they will definitely be influenced or carried by how exactly how bitcoin market recovers. If bitcoin market recovers well then some will follow it and recover but most are/will already die this year.
It is very possible that this bear season, bitcoin market will dip down to market price below $60,000 but we only don't know when and how this is going to occur or the major events that may trigger this happening anytime soon, while as for the all-time high, I think we still need more time to take until we are done with this bear season and emerge into the bull season before we can talk about all time high and this should be coming by 2027 after the next halving.
It will be more convinced to me with the opinions of the other analysts prioritizing the analytical instruments on the adoption scalability especially the ETF since their actions on the market are aggressively strong enough drive the markets volatility.
The old guy Michael could also be right that we might experience some more tough bearish market and probably meets a new bottom.
Nevertheless, it is also possible to see new ATH or probably could be a resistant above $57K the old guy think the price will fall at.
We just can not speculation with confidence.
Well at this point I just take whatever kind of analysis I see from all these experts here and there, because the uncertainty in the market right now is just not worth arguing over. One person says bottom is $57K, another says we are going to a new all time high and in the end nobody really knows for sure. The market has just been too unpredictable lately. I just feel like anything around or below $60K could be a strong area, but whether it holds or not depends on so many things happening outside crypto too. So for me!! instead of stressing over predictions, I just stay cautious and go with the flow of the market.
I voted for Yes.
I would argue that we are still in the bear market, so I'm seeing that the lowest low might not be this year. But there is a big possibility that somewhat in 2027, there will be a big dump that will caused the price to decline to at least $50k-$60k as the bottom.
Nothing to be afraid though, it's just the normal cycle of Bitcoin and for sure majority are going to be happy to see that kind of lowest low as they can accumulate more.
That's the beauty of the market, some experts will throw random speculation and see what sticks. If it happens that you are right, congratulation you got some people following your future advice.
Though this one analysis does hold a candle to what happening to bitcoin right now, the chart weirdly resemble the chart of the previous bullrun so it kinda make sense to me.
Black swan always come unexpected and maybe the current cycle to previous cycle isn't that different after all.
I can agree that Bitcoin will not get to its ATH this year, will not fall below $60k this year but the timing of when it will do that is what we don't know.
For Crypto Godfather to state it boldly that Bitcoin will decrease to $57k in October is what he can't be too sure of, to happen in October because can do that in months before or after October.
I learned a long time ago not to listen to anything that any so called experts or gurus think. Making specific price calls more often than not end up being wrong.
By all means, take little snippets of advice from certain people but dont base any of your own financial decisions on what somebody else predicts.
The bottom may or may not be in, I do think we will not see another all time high in 2026 though.
Well, he is right in one way that we won't be able to reach an all-time high this year, and why would anyone be thinking that when we know this is a bear market year and we shouldn't be expecting such prices?
I know we are bitcoin enthusiasts, but still, sometimes it's good that bitcoin takes a correction and we may buy low and be ready for big moves ahead. If history repeats, as it has been respecting ever since Bitcoin came into existence, we may see the bottom in the last quarter of 2026; however, no one knows what or when the exact bottom will be.
We can just buy into his speculations or work against it, on this g for sure is that, we cant tell what the price of bitcoin could be in October but one thing is that historical data may point us to somewhat bullish expectations we may not see new price high record in this year but, we cant also touch the bottom I believe also that $57k low benchmark predictions for bitcoin is still OK, but we can't take out the possibilities that bitcoin may not touch that low too.
Well a new all time high is quite pushing it
But I might be a little optimistic that the bottom might already be in
With volatility for the past years reducing and strength we currently having
But we still have quite some months remaining so anything can happen
Hopefully this is a consolidation year and we don't go lower.
I definitely remember in the past following some "guru's" advice which didnt work out so yea
we can take forecasts with a pinch of salt but I think this one is modest enough.
I think the essence of the OP is correct, after all we are in a Bear market and that should
start to turn around September or October based on the 4 year cycle.
So in a Bear market there wouldnt be an ATH, he's correct about that, its kind of obvious.
I've never heard the term Crypto Godfather before. I searched but found different people using same nickname. If there was an original one, I'd probably know.
As for what he's saying, a drop to $57k is definitely a possibility. I've been saying something similar for a while. The bottom could be around 60k or it might drop a bit more to 50k range. But I don't really see it goes below 50k.
Besides that, I think we've got about a year to keep accumulating more cheap coins. If it drops below 60k, that's great. If not, we just keep buying at slightly higher levels. Selling Bitcoin before 2028 would be a mistake. That's my personal opinion though, I may be wrong.