Bitcoin is down 20% from its highs and now at the lower end of a range-bound trading “pattern.”
Some bad Elon news caused a sharp selloff but the fundamental value of it hasn’t changed. Same thing with Ethereum.
There’s no guarantee that crypto won’t come a little lower, but money is always safer when invested in stronger assets. So IF you are interested in crypto, these two leading coins are now at a much cheaper price point.
I personally use Coinbase to do my crypto investing. Use that link and you can get free Bitcoin when you start investing.
Other than crypto, there’s A LOT of tech and growth on sale. Inflation and interest rate fears, something I’ve spoken about in previous newsletters, has showed its hand in the market. Moreover, investors are still obedient to the “sell in may and go away” philosophy.
MORE THINGS ON SALE - wait for the setup (sideways movement)
$ARKK - innovation ETF run by Cathy Woods. If you’re interested in tech and want a mashup of some potentially good ones, this ETF is HIGH growth. High risk, high reward
$DKNG - online sports betting. Bad earnings, but the underlying social trend remains strong
$UBER - Back down around IPO price
What I’ve Bought So Far In The Meltdown
GBTC - a fund that mirrors the movement of Bitcoin (50k for Bitcoin is a high volume area)
ARKX - Space exploration ETF run by Cathy Woods (cheap and I believe in her investment theory)
Uber - ride sharing company and food delivery (Cheap)
AGNC - Real Estate Investment Trust (High Monthly dividend)
Not recommendations, just letting you know that I’m buying things that are cheap OR setting up well.
Be careful! Think wealth, long term. Not quick money.
Today’s pain can lead to tomorrow’s pleasure.