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Is Bitcoin a Buy Right Now?

TheMotleyFool

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After topping out at over $124,000 per token last October, Bitcoin (CRYPTO: BTC) has plunged about 28% and is currently trading slightly below $90,000. While the drop is certainly unwelcome to current holders, this is not new territory for Bitcoin investors.

Bitcoin has been extremely resilient in its short life, rebounding from numerous drawdowns of over 50% and even 90%. The world's largest cryptocurrency is still up nearly 180% over the past five years. However, in recent months, the token has faced concerns about the economy, the trajectory of interest rates, and even the possibility that quantum technology will eventually become a significant competitor to blockchain.

Image source: Getty Images.

Source Fool.com

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