Bitcoin will bottom at $57,000 in October and will not see an all-time-high this year, says Michael Terpin

Michael Terpin, an early Bitcoin investor and author, believes Bitcoin has not yet reached its bottom and predicts it will fall to around $57,000 in October before beginning an ascent. He also stated that a new all-time high for Bitcoin is unlikely this year. Terpin's view contrasts with many analysts who believe the recent February low marked the end of the bear market. He cited the rejection of the $80,000 psychological barrier and tight liquidity conditions as factors supporting his bearish outlook. While market analyst Jason Fernandes agrees that the bottom is not yet in, he disagrees with Terpin's timeline, suggesting that full capitulation has not occurred and macro conditions remain a concern. However, other analysts like Mati Greenspan disagree with Terpin's overly bearish stance, seeing potential for a new all-time high this year due to institutional adoption and growing interest.

(Source：CoinDesk)