Bitcoin Just Turned Negative for the Year. Is It Still a Buy?

Core Viewpoint - Bitcoin was expected to double in value in 2025 but is currently down for the year, having fallen below both $100,000 and $90,000 price levels, raising concerns about a potential steeper decline [1] Short-term Investment Perspective - Gold has increased by 55% this year, outperforming Bitcoin, which is down 6% [2] - The argument that Bitcoin should track the price of gold is weakened as Bitcoin is declining while gold is rising, suggesting that investors may prefer gold over Bitcoin [2][3] Long-term Investment Perspective - For long-term investors, Bitcoin remains a viable investment due to its historical performance, having only three down years since 2010, with significant growth in other years [4] - Bitcoin is characterized by cyclical behavior, typically experiencing boom-and-bust cycles every four years, with a significant decline expected after substantial gains in 2023 and 2024 [5][6] - Despite recent price declines, Bitcoin still makes sense as a high upside investment for those with a five-year or longer time horizon [7]