Could Bitcoin Fall to $50,000 This Year?
The cryptocurrency has shown support at around $60,000 thus far, but whether it can continue to do so is by no means a guarantee.
Could Bitcoin Fall to $50,000 This Year?
Overview
Bitcoin (CRYPTO: BTC) is a volatile investment, and that's something long-term investors have become accustomed to. While it's up around 90% in five years, the path it's taken to achieve those returns has been anything but steady or predictable. In 2022, with inflation on the rise, the cryptocurrency crashed and fell out of favor with investors, only to end up rising in the years afterward.
This year has started incredibly bearish for the leading cryptocurrency, as it's down close to 30%, recently hitting lows of around $60,000. That's a far cry from the heights it reached last year when it was traded at more than double that amount at one point. Given the bearishness around Bitcoin these days, could it fall to $50,000 this year, or is a rally overdue?
Image source: Getty Images.
Details
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Originally published at www.fool.com.
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