Mohamed El-Erian, Chief Economic Advisor of Allianz, suggested that Bitcoin will be a buy if it fells below US$5000.
El-Erian perhaps believes that a healthy correction has almost come to an end, and the possibility of a real bubble is not high enough to dismiss the prospect of Bitcoin becoming a destructive innovation to innovate the financial industry.
I used to be an investor who looked heavily on the fundamentals. However, I find that our modern approach of financial statement analysis effectively becomes an analysis of financial ratios. There are also many problems in corporate reporting that distort the real picture of a company.
Nowadays I look more at the dreams, vision and passion of the founders of a firm/blockchain. Although they may have yet passed the break-even point, the future prospect of blockchain justifies me to look beyond the immediate future.
I invest in dreams and vision.
Source: CCN
