Bitcoin's Low Point May Be Reached: Why Now Could Be the Time to Buy

Investors have been bearish on Bitcoin (BTC) due to its 50% decline from its all-time high of $126,000 last October. However, history suggests that this may be the most bearish phase of a four-year cycle, and it's now been approximately 10 months since Bitcoin reached its peak.

Coinbase Global CEO Brian Armstrong and top tech investor Cathie Wood both believe that Bitcoin has hit a bottom at $60,000. They point out that the long-term investment thesis for buying Bitcoin remains intact, with potential price targets of $1 million or more by 2030.

The holding period for Bitcoin should be at least five years to ride out market downturns and profit from its upside potential. With a current price of around $65,000, some analysts believe that Bitcoin is now too cheap to ignore.