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, an early investor in the cryptocurrency and author of Bitcoin Supercycle: How the Crypto Calendar Can Make You Rich. Terpin, often referred to as the 'Crypto Godfather' due to his early involvement in the industry, believes that the price needs to fall to approximately $57,000 by October before it can begin to rise again. This prediction is based on his analysis of the cryptocurrency's historical cycles and market trends. However, not all analysts agree with Terpin's bearish outlook, with some arguing that the market has not yet fully capitulated and that a new all-time high is still possible this year.
The debate highlights the uncertainty and volatility that continue to characterize the cryptocurrency market.