RESOLVING THE LEDGER
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Perspectives on where Bitcoin (CRYPTO: BTC) is headed next tend to vary wildly. Some investors think Bitcoin is headed for a further breakdown and could fall all the way to zero. Others think that Bitcoin is on the cusp of a major breakout and could reach $1 million by 2030.
So which is it? Is Bitcoin headed for a breakdown or a breakout? Fortunately, I believe there is enough historical evidence to answer that question.
Bitcoin has historically been a highly volatile asset , capable of wild price swings on a daily, weekly, monthly, and annual basis. Throughout its history, in fact, Bitcoin has suffered several major breakdowns.
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