Bitcoin's Price May Plummet to $57K in October 2026: Analyst
Bitcoin investor and author Michael Terpin predicts that Bitcoin's price could fall to $57,000 by October 2026 before starting a new bull cycle. This forecast is based on historical data showing an average one-year drawdown from market cycle tops to cycle bottoms.
Terpin notes that Bitcoin reached its all-time high above $126,000 in October 2025 and applying the same historical timeline would place the expected bottom near the $57,000 level. Despite a recent price rebound of over 29%, Terpin believes the price needs to reclaim $100,000 for a genuine bull market to resume.
Terpin cited strong ETF inflows, continued buying by Strategy's Michael Saylor, and no sharp liquidation events as conditions necessary for a sustained recovery. He also pointed out that Bitcoin's 200-week moving average is a critical dynamic support level that it may need to fall below before any lasting upward move.
Other analysts, including Matthew Hyland and Rekt Capital, echo Terpin's view of a potential lower bottom before a lasting upward move. The Federal Open Market Committee meeting this week will likely see no interest rate cut, according to 99.5% of surveyed traders via the CME FedWatch Tool.