Forget $80k: Michael Terpin warns bitcoin could revisit the $40,000s before a real recovery
CoinDesk
Michael Terpin suggests Bitcoin may drop to the $40,000s or $50,000s before a durable bottom forms, citing historical post-halving cycles.Summary
Michael Terpin, CEO of Transform Ventures, believes the current crypto market is following historical post-halving patterns, making recent overly optimistic bottom calls, like $80,000, seem "ridiculous." He argues that the speculative blow-off phase of the cycle lasted 11 months, similar to previous cycles, and suggests the market likely faces "one more point of pain." Terpin forecasts that Bitcoin could revisit levels in the $50,000s or even the $40,000s before a durable bottom is established, contrasting with predictions of an immediate resumption of the climb after a $60,000 bottom. He emphasizes that the four-year cycle anchored around Bitcoin's halving events remains a highly reliable indicator of market structure.
(Source：CoinDesk)