Terpin Sees BTC Price Drop to $40k-$50k Before True Bottom

Bitcoin investor and author Michael Terpin predicts that the cryptocurrency's price may still fall to $40,000-$50,000 before reaching a true bottom. According to Terpin, this would be part of Bitcoin's four-year halving cycle, with early October being a likely window for the final 'pain zone' where impatient sellers are forced out.

Terpin points to the 66% decline from Bitcoin's all-time high of $126,100 in October 2025, which could place the price near $43,500. He argues that this decline is not a permanent break from the broader up-cycle and that his long-term outlook remains bullish.

In an interview, Terpin emphasized that institutions still sell, rejecting the argument that ETFs have eliminated selling incentives during downturns. He also warned about the risks of buying companies with exposure to Bitcoin holdings or related strategies, citing MicroStrategy as an example.