TechFlow News, February 12: According to a CoinDesk report, Michael Terpin, CEO of Transform Ventures, stated at the Consensus Hong Kong conference that Bitcoin may need to fall back to the $50,000 or even $40,000 range to establish a genuine bottom and begin a sustained recovery.
Terpin believes the current crypto market is evolving in line with historical patterns. He remains skeptical of recent bullish predictions, noting that Bitcoin typically reaches its bull-market peak in the fourth quarter following a halving event—and then corrects—consistent with prior cycles. He pointed out that, historically, it has taken roughly one year from bubble burst to bottoming out, and given today’s fragile market environment, another “pain point” may still lie ahead.
Terpin emphasized that Bitcoin’s halving mechanism—cutting miner rewards approximately every four years—creates a supply shock and enhances scarcity; this design has historically been a key driver of bull markets.
