Here's Why I'm Buying Bitcoin Right Now
Bitcoin may finally be nearing the end of the bearish phase of its four-year cycle.
Overview
It's easy to understand why so many investors are bearish on Bitcoin (CRYPTO: BTC) right now. It's down nearly 50% from its all-time high of $126,000 last October. As a result, investment opportunities in AI simply look more appealing than Bitcoin right now.
However, Bitcoin has always been a highly cyclical asset, and the most bearish phase of that cycle now appears to be coming to an end. If that's the case, now could be the best time to buy Bitcoin.
Details
In short, Bitcoin may have finally hit a bottom at $60,000. That's the view of Coinbase Global CEO Brian Armstrong, who first called a Bitcoin bottom back in June. And it's also the opinion of top tech investor Cathie Wood of Ark Invest, who recently suggested that Bitcoin has bottomed out.
Source
Originally published at www.fool.com.