Coinbase CEO Brian Armstrong Says $60,000 Is the Bottom for Bitcoin. Where Does BTC Go From Here?
Historically, Bitcoin has rallied from steep market downturns to hit new all-time highs.
Overview
In mid-June, Coinbase Global CEO Brian Armstrong predicted that Bitcoin (CRYPTO: BTC) may have hit a bottom at $60,000.
While Bitcoin has only made a modest move upward since then, there's reason to think that Bitcoin might actually turn things around this year. In fact, at a current price of $64,000, Bitcoin still has an outside chance of hitting $100,000 within the next 12 months.
Details
According to Brian Armstrong, a key factor to keep in mind is the Bitcoin four-year cycle. Historically, Bitcoin has always been a boom-or-bust asset. Either it's the top-performing asset in the world, or it's the worst-performing. Three good years are typically followed by one very bad year.
Source
Originally published at www.fool.com.