A chart to understand @fundstrat Tom Lee's emotional journey throughout the year:
1️⃣ Q1 Honeymoon Period: ETF approval, $250k target announced, strong belief in exponential growth driven by institutional funds.
2️⃣ Q2-Q3 Narrative Period: Price volatility, emphasis shifted to macroeconomic logic (Federal Reserve, outperforming gold, millennials), reinforcing bullish sentiment.
3️⃣ Q4 Reality Period: Acknowledging the $250k target was unattainable within the year, lowering the target to $125k.