On June 17, crypto analyst Miles Deutscher posted a warning to investors on X, emphasizing that rising prices—even for high-quality assets—can reduce investment appeal if fundamentals stay the same. Miles Deutscher Warns: Even Good Crypto Assets Can Become Bad Buys at High Prices Deutscher wrote that an asset like $HYPE might offer strong value at $10 or even $30, but as its price climbs to $40 or $50 without a change in its underlying fundamentals, it becomes a weaker buy. “There will come a point where it becomes a ‘bad’ buy, despite being a good asset,” he said. He also reversed the logic, explaining that low prices can make even poor-quality tokens look attractive. The higher in price a quality asset goes, assuming fundamentals remain constant, the worse a buy it becomes.i.e. $HYPE was a brilliant buy at $10, fantastic at $20, great at $30, good at $40, decent at $50 and so on..There will come a point where it becomes a "bad" buy,… https://t.co/OeNyWtzWCd — Miles Deutscher (@milesdeutscher) June 17, 2025 “There are some absolute trash, scam, vapourware projects which, at the right price, represent brilliant buys,” he added. In a follow-up post, Deutscher stressed that “price and fundamentals aren’t always aligned.” He cited a quote from Howard Marks: “Good assets become bad investments at the wrong price, and bad assets become good investments at the right price.” Voice from Value Investing: Howard Marks Reinforces Core Lesson Howard Marks, co‑founder of Oaktree Capital, echoed Deutscher’s warning in a recent memo, stating: “There’s no asset so good that it can’t become overpriced and thus dangerous, and there are few assets so bad that they can’t get cheap enough to be a bargain.” He emphasized that price, not just quality, determines if an investment is sound. In January’s “bubble.com” memo, Marks recalled the Nifty Fifty crash and cautioned that “there’s no price too high” mentality marks bubble territory. At the Qatar Economic Forum, Marks again advised vigilance as U.S. markets remain elevated, urging investors to focus on valuation discipline over market excitement. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.