Bitcoin Plunge May Be Bottoming Out as Experts Predict $1 Million Price Target

Bitcoin's price has dropped nearly 50% from its all-time high of $126,000 in October. This downturn is part of a four-year cycle that sees Bitcoin trade in boom and bust phases.

Coinbase Global CEO Brian Armstrong believes the bottom may have been hit at $60,000. Cathie Wood of Ark Invest shares this view.

The long-term investment case for Bitcoin remains intact, according to both Armstrong and Wood. They predict a price target of $1 million or more by 2030.