Bitcoin Sees $100k Target as CEO Predicts Bottom at $60k

Coinbase CEO Brian Armstrong has predicted that Bitcoin's price will hit a bottom at $60,000. While Bitcoin has only made a modest move upward since then, there is reason to think it might turn things around this year.

The key factor to consider for crypto investors is Bitcoin's four-year cycle of boom or bust. Historically, Bitcoin has always been a boom-or-bust asset, either performing well above the rest or poorly.

A compound annual growth rate (CAGR) of 33% over the past decade shows that long-term, Bitcoin has followed an upward trajectory. After every major market crash, it has recovered to hit new all-time highs.