Bitcoin Is Down 54% From Its All-Time High. Here's What History Says Happens Next
If history is any guide, a recovery could be coming soon for Bitcoin.
Overview
If you're a Bitcoin (CRYPTO: BTC) investor, it's fully understandable if you're getting nervous right now. Bitcoin is now down a whopping 54% from its all-time high of $126,000, and could be headed even lower.
But zoom out and take the big-picture view. Bitcoin is a classic boom-or-bust asset and is currently going through the inevitable "bust" phase of its four-year cycle. That means a recovery could be right around the corner. The historical data is just impossible to ignore.
Details
Take, for example, what happened during the previous four-year Bitcoin cycle. In late 2020, Bitcoin had just hit a then-all-time high of $69,000, and everyone wanted a piece of it for their portfolio. The sky seemed to be the limit.
Source
Originally published at www.fool.com.