I just saw that Michael Terpin is warning again about Bitcoin. The guy has a history of making interesting market predictions, and this time he's being quite pessimistic. He says that before we see a real recovery, the price could drop to $40,000. Quite different from what many expected with the price hovering around $72,900 these days.

Michael Terpin comments that that $80,000 level many had in mind might be left behind for a while. According to his analysis, we should be prepared for a deeper correction. It's not the kind of news you want to hear when you're in the green, but Terpin has been in this for years and knows how the market moves.

What's interesting is that Michael Terpin isn't being alarmist just to be alarmist. He's simply pointing out that the path to new highs will probably go through a test of fire first. If you have open positions, it might be a good time to review your strategy and not assume that the rise will be in a straight line.