Down 34% From Its Highs, Is Bitcoin a Buy Right Now?
Bitcoin has likely bottomed and could be headed for another all-time high in 2027.
Overview
Bitcoin (CRYPTO: BTC) is still down 34% from its all-time high of $126,000 from last October. But it's getting very hard to ignore its stunning reversal over the past two months. In July, Bitcoin dipped below $60,000. Today, it's trading near $85,000.
That leads me to think that Bitcoin could be ready to regain the $100,000 price level by the end of this year. In 2027, it could hit a new all-time high if the momentum continues.
Details
The key to understanding Bitcoin has always been its 4-year boom-and-bust cycle. Long story short, three good years are typically followed by an epic collapse in year four. Then, the cycle begins anew, and Bitcoin races to another all-time high.
Source
Originally published at www.fool.com.