Bitcoin May Have Hit Bottom at $60,000

Bitcoin's highly cyclical nature means it typically experiences four-year cycles of boom and bust. With its all-time high reached in October, many investors are bearish on the asset, which has dropped nearly 50% to around $60,000.

However, according to Coinbase Global CEO Brian Armstrong and top tech investor Cathie Wood of Ark Invest, this may be the end of the bad year. They believe the long-term investment thesis for Bitcoin remains intact, with some predicting it could hit a price target of $1 million or more by 2030.

The path upward is likely to be volatile, but Bitcoin at $65,000 is considered too cheap to ignore any longer. To benefit from this potential upside, investors should adopt a long-term perspective and hold onto their investments for at least five years.