Michael Terpin, an early Bitcoin (CRYPTO: $BTC) investor who is known as the “Crypto Godfather” says that BTC has further to fall and a new all-time high in 2026 is unlikely.
Specifically, Tepin says that, despite its recent bounce, Bitcoin has not yet bottomed and is likely to drop as low as $57,000 U.S. by October of this year.
Tepin’s comments run contrary to the views of many analysts who say that Bitcoin’s low of $60,000 U.S. reached in February was likely the start of a new bull run.
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Strong inflows into spot Bitcoin exchange-traded funds (ETFs) have buoyed the price of the largest cryptocurrency, which hit $80,000 U.S. in recent days.
Tepin’s contrary view is based on his opinion that tight liquidity, higher interest rates, and the absence of full capitulation suggest further downside ahead for BTC.
“Despite a double-digit gain thus far in April, we are very much still in a Bitcoin fall,” said Tepin during a media interview.
Terpin is the author of “Bitcoin Supercycle: How the Crypto Calendar Can Make You Rich.” He also founded Transform Group, one of the first public relations firms focused on blockchain companies.
BTC is currently trading at $76,100 U.S.