Is it time to buy Bitcoin? Is it going to $60k or $120k?
The so called experts at Fundstrat are themselves split with co-founder Tom Lee (yes, guy with the big hair whose on CNBC too often) is publicly calling for Bitcoin to hit all-time high by end of January implying $126k+
While Sean Farrell his Head of Digital Strategy at the same firm is sharing in memos the firm expects a drop to $60k for Bitcoin!
While I don’t give formal financial advice anymore, I do manage proprietary trading and quantitative research at our firm where we track thousands of companies and ETFs.
I’m often asked whether now is the right time to buy “xyz” stock or Bitcoin, and my answer is almost always “it depends.”
This usually frustrates people because they’re looking for a simple “yes” or “no” to confirm their own bias.
The reality is that any investment must be based on your investment goals, specific risk tolerance, timeline, and the alternative assets available to you with the same or lower risk profile to meet your investment goals.
My best advice is don’t get stuck on a specific stock or asset.
Start thinking critically and stop following the so called investment gurus on tv and influencers on social media promoting their own agendas with headline grabbing statements, “Bitcoin will hit $1 million this year” BS.
Don’t let the blind lead the blind.
Life advice, not investment advice.