Bitcoin Not Bottomed, New High Unlikely

Michael Terpin, an early Bitcoin investor known as the 'Crypto Godfather,' predicts that Bitcoin has not yet reached its market bottom and a new all-time high is improbable this year. He forecasts a potential dip to around $57,000 in October before any significant recovery. This view contrasts with many analysts who believe recent lows around $60,000 marked the start of a new bull run, citing ETF inflows and market resilience. However, Terpin and some other analysts point to tight liquidity and macroeconomic uncertainties as reasons for continued downside risk.