Bitcoin’s Fall Could Put One of the Market’s Best Stocks on Sale
As the world’s top coin suffers it’s worst performance in years, savvy investors are already plotting their future buys.
The world’s most popular cryptocurrency continued its fall yesterday, which marked the fifth straight day of declines.
At its worst, Bitcoin fell by more than 25% yesterday.
The crash come just a little over a month after Bitcoin had hit all time highs of almost 65,000 – and puts it on pace to have its worst month in three years.
And the rest of the digital market is faring even worse.
But it’s not just cryptocurrencies that are feeling the heat right now.
While this may seem like terrible news for investors, I’m seeing a big opportunity in the wake of the crash on one stock in particular.
Where’s the money?
The extreme selling pressure in cryptocurrencies are being felt not just in the digital market, but on Wall Street, too.
Cryptocurrency derivatives have liquidated more than $8 billion worth of positions amid the selloff.
The Chinese government has even gone so far as to ban financial firms from providing services to crypto businesses – a big blow to the digital market’s aspirations of wider acceptance.
But there’s one stock I’ve got a close eye on for a big profit opportunity from this whole mess.
Oddly enough, some are blaming its CEO for sending Bitcoin into its current downward spiral.
I’m talking, of course, about Tesla, Inc. (TSLA).
On Sunday, Elon Musk replied to a tweet from a user named @CryptoWhale that read “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their #bitcoin holdings.” With a one-word reply, “Indeed.”
The cryptic remark sent Bitcoin down sharply in just a matter of minutes due to Tesla’s massive $1.5 billion Bitcoin holdings.
While Musk later clarified that Tesla has not sold any of its Bitcoin, the damage was done.
As a result, Tesla stock has also taken a beating. And that’s exactly where our opportunities lies…
How do I get some?
The big question on everyone’s mind right now is “Is this short-term bottom in for Bitcoin?”
I think the answer is no.
Investors want to know what the ramifications will be for Tesla.
I think there will be some significant selling pressure ahead in this name
But I think all pullbacks should be bought in TSLA as well. This is an extremely successful company that’s leading the way in electric vehicle space – which you all know I believe is going to be huge.
So, while its CEO does tend to torpedo the stock with tweets from time to time, I see the effects as a great opportunity to buy the stock at a discount.
But with more trouble ahead for Bitcoin, you’re going to want to be patient.
I’d wait for TSLA to drop to $420 and buy it all.
Microcurrencies are the Digital Market’s Next Big Thing
There’s been a ton of optimism in the crypto world over the last few years, and hordes of new investors have poured into the top coins like Bitcoin and Ether.
But what if I told you that you could have made 20X the amount of profits that Bitcoin – which has been one of the best performing assets over that time?
You don’t have to buy Bitcoin to get rich off of crypto.
There are tiny, virtually unknown coins hidden in this market – and they’re stacked with even more profit potential than the market’s top coin. One coin, in fact, beat Bitcoin by 2,373% in only 17 days after some explosive growth.
And there’s many more where that came from. Learn all about it right here.
In the Spotlight:
I’ve talked before about the big year I believe the semiconductor space will have.
Well, for shareholders of Advanced Micro Devices, Inc. (AMD) the profits have already started to roll in.
Yesterday, AMD announced a $billion stock buyback program – it’s first in twenty years.
CEO Lisa Su, in making the announcement, stated “Our strong financial results and growing cash generation enable us to invest in the business and begin returning capital to our shareholders.”
The news comes shortly after AMD’s earnings solidified the chipmaker as one of the best in the industry, having weathered the recent chip shortage extremely well.
AMD shares rose as much as 3.4% after the announcement, but I’ll still be looking for more buying opportunities going forward for this overachieving stock.