'Crypto Godfather' says bitcoin has not reached its bottom and a new all-time high is off the table for 2026
Michael Terpin, an early bitcoin investor known as the 'Crypto Godfather,' believes bitcoin has not yet reached its bottom and will not hit a new all-time high in 2026, forecasting a drop to $57,000 by October. He argues that a true bull market can only begin once bitcoin surpasses $100,000, a threshold he sees as unattainable this year. His bearish outlook contrasts with other analysts who cite strong ETF inflows and geopolitical resilience as signs of an ongoing bull run. Market sentiment and macroeconomic conditions remain divided on the timing and triggers for a sustained recovery.
- ▪Michael Terpin predicts bitcoin will fall to around $57,000 by October 2026 before beginning a new upward cycle.
- ▪Terpin states that bitcoin must surpass $100,000 to confirm a new bull market, which he believes is unlikely in 2026.
- ▪Some analysts disagree with Terpin, citing spot ETF inflows and market resilience as evidence of a bull run already underway.
- ▪Analysts like Jason Fernandes and Mati Greenspan argue that while the bottom may not be in, institutional adoption and macro shifts could still drive bitcoin to new highs.
- ▪Tight liquidity, high interest rates, and lack of extreme market pessimism are cited as factors that could prolong bitcoin's downward pressure.
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmail'Crypto Godfather' says bitcoin has not reached its bottom and a new all-time high is off the table for 2026The early bitcoin investor and author of Bitcoin Supercycle says bitcoin needs to drop to about $57,000 sometime in October before beginning its ascent. A market analyst disagrees. By Olivier Acuna|Edited by Omkar Godbole, Aoyon Ashraf Apr 28, 2026, 3:18 p.m. Make preferred on The author of "Bitcoin Supercycle: How the Crypto Calendar Can Make You Rich" explains why bitcoin has yet to bottom and why it will not see an ATH this year.
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