
Michael Terpin, known as crypto's 'Godfather,' says he is currently shorting Bitcoin, expecting a drop from the $82,000 level to between $50,000 and $60,000 before a long-term rise. He believes Bitcoin's four-year cycle is still intact and anticipates a full market bottom around October, with institutional buying creating a strong floor. Terpin remains bullish long-term, projecting Bitcoin could reach $1 million by 2033, but warns of short-term volatility and potential risks to Ethereum smart contracts from advanced AI.