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Fortune
Fortune
Business
Marco Quiroz-Gutierrez

Bitcoin is trading more like an ‘amplified version of gold’ again, but the four-year cycle theory threatens further declines

(Credit: Chip Somodevilla—Getty Images)

Bitcoin hit a multi-month high this week thanks in part to investors fleeing volatility and treating the largest cryptocurrency like a safe haven again.

From early June, the price had been stuck in a range between $60,000 and $70,000, disappointing investors still hopeful Bitcoin could return to the boom times of October when it skyrocketed above $126,000.

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