Bitcoin Price Hinges on Entry Point, Warns Veteran Trader

Veteran trader Dave Weisberger recently compared buying Bitcoin to purchasing Amazon before its historic rise, suggesting that the key question is not whether investors will profit from their purchase, but rather when they enter the market.

Weisberger made his comments on The Wolf Of All Streets podcast, drawing a parallel between investing in BTC and AMZN. He noted that just as it's difficult to know whether buying Amazon at $90 or $9 was more advantageous, investors won't be able to determine their entry point for years to come.

Bloomberg Intelligence senior commodity strategist Mike McGlone disagrees, warning that Bitcoin is still in a bear market and has yet to face a significant macro stress test. He believes the asset will need to drop 20-30% with equities falling for the macro thesis to be broken.