History Says That Bitcoin Is an Unbelievable Bargain Right Now
Bitcoin could be nearing the end of its current cycle of boom and bust, making it an attractive buy.
Overview
On the surface, Bitcoin (CRYPTO: BTC) might look like the type of digital asset you wouldn't touch with a 10-foot pole. After all, it's now down 50% from its all-time high last October, and trades for just $64,000. Billionaire investor Jeremy Grantham recently warned that Bitcoin will now "dwindle away" with a whimper.
But, if history is any guide, Bitcoin could be a great bargain right now. Here's why.
Details
The first thing you need to know about Bitcoin is that it typically trades in four-year cycles of boom and bust. So the current downturn in the price of Bitcoin is nothing new. Crypto investors have seen this story before: Bitcoin has three fantastic years, and then crashes in value. A new cycle then begins.
Source
Originally published at www.fool.com.