Amid growing anticipation about Bitcoin’s potential price movement in 2026, renowned early Bitcoin investor Michael Terpin has predicted that the asset will return to 2023 levels in the new year.
According to the analyst, the last quarter of 2026 will mark a major accumulation phase for retail and institutional investors ahead of the next major bull cycle.
Bitcoin may bottom at $60,000
On Thursday, Jan. 1, Terpin issued a brutal forecast for Bitcoin, igniting fresh debate across the crypto market after predicting that Bitcoin could bottom near $60,000 in Q4, 2026.
The analyst noted that while Bitcoin has been showing mixed price action amid the high market volatility, its long-term prospect signals continued expansion.
Terpin’s prediction suggests a major price drawdown in late 2026, which could see the asset retest a historic low level of $60,000.
Not the end for Bitcoin
Nonetheless, the analyst further stressed that the pullback should not be interpreted as the end for Bitcoin nor its failure, but rather as a strategic opportunity for long-term investors to purchase the asset at lesser prices.
While Terpin had emphasized on Bitcoin’s four-year halving cycle, he expressed belief that Bitcoin’s true accumulation window will open between 2026 and 2027.
As such, he expects that the increased global adoption, tighter Bitcoin supply and growing demand for the asset will push massive institutional accumulation in 2028 and 2029.
Notably, a dip toward $60,000 would see Bitcoin retrace by about 60% to 70%, after which long-term holders and institutional investors, including Bitcoin ETFs, would likely step in aggressively, absorbing supply and gradually tightening market liquidity to fuel a major rally.
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