Michael Terpin, known as the 'Crypto Godfather' for his early involvement in the industry, has expressed his belief that bitcoin has yet to reach its lowest point and a new record high is unlikely in 2026. Terpin, who is also the author of Bitcoin Supercycle: How the Crypto Calendar Can Make You Rich, anticipates that the price of bitcoin will need to break above $100,000 to confirm the start of a bull market, but notes that no such support has been seen so far.
He predicts that the bottom of the market will be reached at $57,000, likely in October. This perspective contrasts with the views of many analysts, who think the low point of the bear market was reached in February at around $60,000, marking the beginning of a new upward trend. Terpin's prognosis is based on historical patterns in the bitcoin cycle, where lower highs are rejected until the final capitulation. However, not all experts agree with Terpin's timeline, with some arguing that the market may not have fully capitulated yet and that a clear exhaustion of speculative leverage and macro uncertainty has not been seen.
Terpin remains adamant that the fundamentals point towards a later-cycle bottom, around $57,000, which is consistent with the historical average of the one-year period following each cycle's bottom. Other analysts, such as Jason Fernandes, agree that the bottom has not yet been reached but disagree on the timing, citing the need for a more decisive shift in monetary policy or a true washout event in crypto markets before downside volatility can be ruled out. The debate surrounding the future of bitcoin's price highlights the complexities and uncertainties of the cryptocurrency market, with some experts predicting a new all-time high in 2026 and others taking a more cautious view.