Bitcoin Rebound: Is $100,000 Back in Sight?
Bitcoin's price has been on a rollercoaster ride in recent months. After dipping below $60,000 in July, it has rebounded to trade near $85,000.
This resurgence has some investors wondering if Bitcoin is ready to regain its all-time high of $126,000 set last October. According to the 4-year cycle theory, Bitcoin's price typically fluctuates between boom and bust periods every four years.
Given that the one-year period of 'epic collapse' is coming to a close, some analysts believe Bitcoin may be entering its next boom phase. The fact that Coinbase Global CEO Brian Armstrong called a bottom in Bitcoin when it dipped below $60,000 also suggests that the price may have stabilized.
One key indicator supporting this theory is the reclaiming of Bitcoin's 365-day moving average of $80,500. In the past, this has signaled the start of a new bull market cycle for Bitcoin.