Should we be more contrarian in investing?

Now is not the crypto winter, but Crypto Ice Age. 😊 Following the FTX bankruptcy, some celebrities who promoted crypto are sued by investors.  I would do so too if I am one of the investors because I need to cover my lost fund and those celebrities have deep pockets and made big bucks promoting it.

In the red-hot market last year, should we sell some crypto or high growth stocks as part of the regular exercise to rebalance portfolio?

Is it now the time to invest in some safer crypto asset such as Bitcoin ETFs in Canada? At least it is overseen by more regulations.

There might be more shoes to drop in Crypto. The price might decline further. Even if someone calls a bottom, can we really trust him or her? Even if later the prediction turns out to be right, how can we tell whether it is mere luck or true genius?

At least one thing for sure, do not invest in anything we don’t fully understand. When it comes to risky asset like Crypto without intrinsic value, we should not invest the amount we cannot afford to lose.

Published by Worthfy

Financial literacy and counselling

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