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Time for market panic? Depends who you ask...

April 8, 2014: 8:38 AM ET

Strategists tell CNNMoney that stocks are headed higher.

It should be another good year for the stock market. Not spectacular, but positive.

That's the general consensus among the investment strategists CNNMoney polled in a recent survey. See the full results here.

Of course, some were more bullish than others, and one was downright bearish.

Gary Flam, a portfolio manager at Bel Air Investment Advisors, had the lowest target for the S&P 500 among the 26 investment professionals in CNNMoney's survey. He expects the index to end 2014 at 1,700, which would translate to a drop of 8% compared with 2013.

On average, the strategists are expecting the S&P 500 to rise 6.5% to 1,968.

Flam acknowledged that the outlook for economic growth has improved and some headwinds have abated. "Yet there are still significant risks that don't justify an above average multiple for the markets," he wrote in his survey response.

On the other end of the spectrum is Joseph Tatusko, Chief Investment Officer at Westport Resources. He expects the S&P 500 to gain nearly 16% this year to 2,143, based on the contention that that stocks "appear reasonably valued."

"Assuming continuing economic expansion and corporate profit growth we think a 10% to 15% return this year is achievable," Tatusko wrote.

Related: 3 cheap stock buyback plays

We also asked if a price bubble could be forming in some sectors of the market, including biotech/healthcare stocks, small-cap stocks or Bitcoin.

Some acknowledged that healthcare/biotech and small-caps were overvalued, but few were concerned about a bubble.

"Biotech is the one group that is probably closest to a bubble," said Ryan Detrick, an analyst at Schaeffer's Investment Research. "Still, the thing to remember is bubbles can last a lot longer than most think."

Biotech reckoning?

Bitcoin, on the other hand, is definitely a bubble ... except maybe it's not.

The vast majority of the strategists who responded to our survey did not offer an opinion on what the digital currency should be worth.

Related: Is the party over for small caps?

Those who did ranged from zero on the low end, to $1,000 on the high end. But even the most optimistic forecast came with a disclaimer: "Who really knows?"

The problem, some respondents said, is that it's very difficult to come up with a fair value for Bitcoin.

"Its intrinsic value is zero. Its market value is whatever everyone else thinks it's worth to everyone else," said Brian Jacobsen, portfolio strategist at Wells Fargo Funds Management. "It's like a snake eating its tail."

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    The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.

    Good news for Tesla investors! You don't need as many bitcoins to buy the electric carmaker's stock as you did just a few months ago.

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    - Nov 19, 2013 1:19 PM ET
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    The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.

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  • Bitcoin mania is back! But is it a bubble?

    The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.

    Remember that Bitcoin bubble? The price of the virtual currency rose as high as $266 in early April when everyone was worried that problems with banks in Cyprus could lead to a huge euro disaster.

    The MORE

    - Oct 24, 2013 1:48 PM ET
  • I lost $50,000 in Bitcoin crash, but I'm still a believer

    At the start of the year, Simon Lang was about $1,000 in the hole on his initial Bitcoin investment. But as the price of the digital currency ballooned to an all-time high of $266 last week, Lang found himself $60,000 richer.

    But that didn't last very long.

    As Bitcoin prices tumbled to around $50 earlier this week, the value of his stake shrank to about $11,000.

    "I was surprised at how fast the price went MORE

    - Apr 18, 2013 6:43 AM ET
  • Bitcoin bubble begins to burst, price plunges 60%

    It may be the beginning of the end for the Bitcoin bubble. The price of the virtual currency, which has increased almost 20-fold this year, plunged 60% Wednesday in the span of just five hours.

    Bitcoin prices hit a high of $266 earlier in the day before dropping as low as $105 in choppy afternoon trading. It later bounced back to about $145, but that's still about 45% below the high.

    The currency, MORE

    - Apr 10, 2013 4:17 PM ET
  • Bitcoins are a bubble

    First there was Tulip Mania. Then there was the dotcom craze. And let's not forget the run-up in housing prices. The newest bubble on the block is in Bitcoins, a 4-year-old virtual currency that has already increased ten-fold this year. And like all other bubbles, this probably won't end well for any investors who jump in way too late.

    Prices have nearly doubled during the past two weeks, and show no MORE

    - Apr 5, 2013 6:52 AM ET
  • The Bitcoin trade: Higher, Higher, Higher!

    Bitcoin -- the 4-year-old cryptic online currency -- is suddenly the hottest investment in the world. What other currency, stock, bond or derivative has seen its value spike 326% in the past month and 67% in less than a week?

    On Wednesday, one bitcoin traded for $147. Just two and a half years ago, a bitcoin was valued at 5 cents.

    The banking crisis in Cyprus certainly contributed to the interest in MORE

    - Apr 3, 2013 1:46 PM ET
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