Michael Terpin, an investor in the cryptocurrency market and CEO of Transform Ventures, expects the price of Bitcoin to surpass the $120,000 level before the last quarter of 2027—i.e., before the expected halving in 2028.
His comments came during an interview with CoinDesk on September 24, 2026, as part of the "Market Outlook" program.
At the time of the interview, Bitcoin was trading at around $84,000, and Terpin said: "I don’t see any scenario that would require 20 months to return to $126,000."
Terpin’s predictions attract attention in the crypto community, especially since he is the author of the book "The Super Bitcoin Cycle," which reviews Bitcoin’s price cycles based on his own model known as "The Four Bitcoin Seasons." This model divides the market cycle into four phases inspired by the seasons.
He bases his view on the limited supply of new Bitcoin, noting that more than 95% of the total supply has already been mined, meaning the remaining mineable quantity will continue to decline over time.
He believes that limited supply, along with growing demand from institutional investors, may support what he describes as a long-term "super cycle," which—according to his estimates—could lead to Bitcoin reaching $1 million per coin during the current decade of the 2030s.
These levels, however, remain Terpin’s personal expectations and are not a guarantee of Bitcoin’s price path.
His comments came during an interview with CoinDesk on September 24, 2026, as part of the "Market Outlook" program.
At the time of the interview, Bitcoin was trading at around $84,000, and Terpin said: "I don’t see any scenario that would require 20 months to return to $126,000."
Terpin’s predictions attract attention in the crypto community, especially since he is the author of the book "The Super Bitcoin Cycle," which reviews Bitcoin’s price cycles based on his own model known as "The Four Bitcoin Seasons." This model divides the market cycle into four phases inspired by the seasons.
He bases his view on the limited supply of new Bitcoin, noting that more than 95% of the total supply has already been mined, meaning the remaining mineable quantity will continue to decline over time.
He believes that limited supply, along with growing demand from institutional investors, may support what he describes as a long-term "super cycle," which—according to his estimates—could lead to Bitcoin reaching $1 million per coin during the current decade of the 2030s.
These levels, however, remain Terpin’s personal expectations and are not a guarantee of Bitcoin’s price path.
