Bitcoin (BTC +2.03%) has admittedly been a huge disappointment for crypto investors this year. It's down 27% year to date as I write this, trading for just $63,000. That's 50% below its all-time high of $126,000 from October.
But there's still a reason to buy Bitcoin while it's under $69,000. Let's take a closer look.
Bitcoin's historical performance
Bitcoin has a phenomenal track record that dates back more than a decade. Yes, Bitcoin is highly cyclical and can be prone to periods of boom and bust. But here's the thing: The boom years more than make up for the bust years. At least that's been the case so far.
Take 2022, for example. Bitcoin lost 64% of its value, and its price cratered from $69,000 (then an all-time high) to $16,000. Many investors gave up on Bitcoin entirely, and some thought it might fall all the way to zero. It didn't. In 2023 and 2024, Bitcoin delivered triple-digit returns to investors and skyrocketed to $100,000.
Image source: Getty Images.
Of course, historical performance is no guarantee of future performance. But Bitcoin's ability to generate triple-digit returns is a proven fact. In four of the past eight years, it has done so. And Bitcoin has never had back-to-back years of losses. In 2025, Bitcoin lost 6% of its value. So there's reason to hope Bitcoin can rebound in the second half of 2026.
The $69,000 price level
For Bitcoin, a price of $69,000 is important. It was the all-time high that Bitcoin reached in its previous bull market cycle. And it was the price Bitcoin traded at on Election Day in 2024.
Viewed from that perspective, Bitcoin's current price starts to look more like a bargain. If you're buying now, you're getting Bitcoin at 2021 prices, and you're also getting access to a cryptocurrency that has the potential to soar from $69,000 to $100,000 in the span of just weeks.
CRYPTO: BTC
Key Data Points
What do people think?
That being said, Bitcoin's soaring in value is hardly guaranteed. If you buy into the opinions from online prediction markets -- which are made up of people making bets on what might happen -- then Bitcoin may not be able to turn things around anytime soon. On Polymarket, for example, traders give Bitcoin only a 17% chance of hitting $100,000 this year.
But just wait until 2027. That's when Bitcoin could deliver truly explosive returns. That's why I'm buying at current price levels. Bitcoin is just too cheap, and market sentiment has gone too far in the negative direction. If history is any guide, Bitcoin is a coiled spring, just waiting to explode.
