Is Bitcoin Headed for a Breakdown or a Breakout? The Historical Evidence Is Just Too Overwhelming to Ignore.
Bitcoin's breakdowns are typically followed by surprise breakout rallies.
Overview
Perspectives on where Bitcoin (CRYPTO: BTC) is headed next tend to vary wildly. Some investors think Bitcoin is headed for a further breakdown and could fall all the way to zero. Others think that Bitcoin is on the cusp of a major breakout and could reach $1 million by 2030.
So which is it? Is Bitcoin headed for a breakdown or a breakout? Fortunately, I believe there is enough historical evidence to answer that question.
Details
Bitcoin has historically been a highly volatile asset, capable of wild price swings on a daily, weekly, monthly, and annual basis. Throughout its history, in fact, Bitcoin has suffered several major breakdowns.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.