While Bitcoin ($BTC) remains below $70,000, analysts predict that $BTC could rise in the near future.
According to CNBC, Wells Fargo analysts predict a return of the “YOLO” (You Only Live Once) strategy as the US tax filing season approaches.
The YOLO strategy refers to an investment approach based on the “you only live once” philosophy, involving boldly betting on high-risk assets.
Wells Fargo analysts predict that a large amount of tax refunds in the US could provide upward momentum for risky assets like Bitcoin.
Wells Fargo, a prominent name in Wall Street, stated in a recent report that it expects the “YOLO” (You Only Live Once) trading trend to revive and that $150 billion in tax refunds will flow into US markets by the end of March.
Analyst Ohsung Kwon predicts that high-income taxpayers could boost market sentiment by reinvesting their tax refunds in stocks and other assets.
The bank says this $150 billion inflow could support and boost risky assets like Bitcoin and stocks.
According to the analyst, stocks like Robinhood and Boeing stand out as companies that could potentially outperform during this period.
*This is not investment advice.
