Bitcoin investor Michael Terpin suggests the cryptocurrency’s price could find a bottom near $57,000 by October 2026, based on historical market cycles. Terpin notes Bitcoin was recently rejected from the $80,000 resistance level and states that the bull market’s resumption is contingent on the asset reclaiming the $100,000 mark, potentially after testing a key long-term support indicator.
Bitcoin’s price was rejected from the $80,000 resistance zone on its path toward the $100,000 psychological level. The asset has rallied more than 29% since its low of approximately $60,000 in February.
According to Bitcoin investor and author Michael Terpin, the price could bottom at the $57,000 level in October 2026. Terpin stated his forecast is based on the historical average drawdown of about one year from a cycle top to a cycle bottom.
The market cycle top was reached in October 2025 when BTC surged to an all-time high above $126,000. Terpin told Cointelegraph that Bitcoin’s price needs to reclaim the $100,000 level for the bull market to resume.
He said this will likely occur when the price falls below the 200-week moving average, which he described as a dynamic and critical support level. Terpin added no further commentary on the specific timing of this potential movement.
