The price of bitcoin has not yet reached its lowest point and is unlikely to achieve a new all-time high this year, according to Michael Terpin, a well-known early investor in bitcoin and author of Bitcoin Supercycle: How the Crypto Calendar Can Make You Rich. Terpin believes that for a bull market to begin, the price of bitcoin must first break back above $100,000, which he does not see happening anytime soon.
Instead, he predicts that the price will drop to around $57,000 by October before it starts to rise again. This prediction is based on his analysis of the cryptocurrency market and his experience as a veteran investor. However, not all market analysts agree with Terpin's bearish outlook, with some arguing that the market has already reached its bottom and is now poised for a new bull run. The debate highlights the ongoing uncertainty and volatility in the cryptocurrency market, where predictions and opinions can vary widely.