bitcoin BOOM
Is It Too Late To Buy Bitcoin? Why Some Wall Street Experts Say No — And How To Start Investing Now
The price of bitcoin has soared above $100,000 but some Wall Street experts believe now is the best time to buy. Here's how to invest.
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The Lede
If you go by some of the many cautionary investing adages — like "buy low, sell high" or Warren Buffett's "be fearful when others are greedy" — it may be tough to argue that bitcoin is a good buy right now. The days when bitcoin traded at mere fractions of a cent are long gone. But some market experts are taking the opposite philosophy with bitcoin and believe it's a fine time to buy, thanks to favorable fundamental trends.
Key Details
- The cryptocurrency's price is anything but low, at least relative to what it was, especially after a 55% rally to over $108,000 following Donald Trump's reelection.
- Robert Cannon, a financial advisor at Experity Wealth, recommends investors allocate about 1% to 10% of their portfolios to crypto, depending on risk tolerance.
- But the recent overwhelming interest in bitcoin is hardly a guarantee of its success. It's famously volatile and prone to dramatic price drops.
