Bitcoin (CRYPTO: BTC) is many things, but you can never call it boring. The oldest, largest, and most mature cryptocurrency is still finding its sea legs in the market, rolling through roughly equal amounts of good news and bad.

The road ahead is as murky as ever. As I write this, Bitcoin's market price stands 62% below the all-time high of November 2021. At the same time, Bitcoin has tripled in three years and gained 1,500% in six years. About half the value of the total crypto market comes from Bitcoin alone. So there are plenty of Bitcoin bulls out there, but also lots of bearish investors.

So where is Bitcoin headed in the long run? Let's consider the best of all possible outcomes, the ultimate bear case, and then find a more realistic middle ground between those extremes.

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Source Fool.com