I’ve made it very clear how bullish I am on stocks. So much so that I bet my friend and InvestorPlace colleague, Matt McCall, that the Dow stocks will hit 40,000 – whereas he thinks bitcoin will get there first!
But for now, I’m going to let Matt present his side of the story. That’s what you’ll hear in the article below.
I’ll be back with more of the reasoning behind my forecast tomorrow.
Louis Navellier is a legendary growth investor with an impressive track record. He’s made money for a lot of people, and he’s worth listening to.
Yesterday, he explained to you why he is confident the Dow will hit 40,000 before bitcoin.
Louis made the case that stocks are the “best game in town”… better than commodities, bonds, and even cryptocurrencies. (I’ll say my piece on that in a moment.) He said that every time the Fed has pushed rates lower, it’s provided more “juice” for the market.
In fact, Louis pointed out that stocks are five times as valuable to investors as bonds, so you can see how the Dow from 26K to 40K starts to look not just possible – but probable.
Here’s the thing. I don’t disagree with Louis. I’m just as bullish on stocks as he is. We even work together on an investing service.
Stocks are one of the best games in town, but I believe there’s an even better game out there. One that will also hit 40K… and I believe will get there even faster than the Dow.
I’m talking about cryptocurrencies – and bitcoin in particular.
Bitcoin has been setting up exceptionally well recently. So well, in fact, that it’s set up to rally more than 250% in the coming years to that milestone $40,000 level.
I know that’s a bold statement, but I’m confident in it.
The latest episode of my MoneyLine podcast was just released this afternoon, and I want to make sure you know about it because in it I give a sneak peak of what Louis and I will be debating next Wednesday at our Race to 40K debate. Click here to RSVP and reserve your free seat (if you haven’t already).
Believe it or not, bitcoin isn’t the only cryptocurrency that’s set to skyrocket in the coming months and years. There’s a select group of altcoins that will be even bigger profit-machines, and I’ll give you those details in the podcast as well.
If you’ve never tuned in to one of my MoneyLine podcasts, I recommend checking it out. I cover all aspects of the market, and this week I talk not just about the Dow versus bitcoin but also the latest GDP number, second-quarter earnings, and an amazing buying opportunity in biotech stocks. I even go into the return of sports (thank goodness they’re back) and what stocks will be big winners as things start to get back to normal.
And the best part? In my podcast, I always throw out at least a few tickers to keep an eye on.
Now… let’s circle back to that massive opportunity in bitcoin.
I believe we’re at the beginning of what will likely be bitcoin’s next big breakout – a rally that will send the leading cryptocurrency back to its all-time highs near $20,000 and beyond.
Bitcoin spent the first couple weeks of July consolidating just above $9,000. This type of action is significant in the world of technical analysis. When a stock, crypto, or any asset class consolidates for an extended period, it usually leads to a big move.
Odds are that big move will be in the direction of the current trend – which for bitcoin is up.
The longer the consolidation and the narrower the trading range gets, the higher the likelihood of a major move. And bitcoin fits the bill perfectly.
It’s long and narrowing consolidation pattern was followed by a breakout through $10,000 for the first time in seven weeks… and then it powered through $11,000.
Since July 20, bitcoin is now up more than 22%. That’s in just 11 days!
And I’m confident this is only the start.
I think it’s only a matter of months before bitcoin is back at $20,000. And from there the sky opens wide up to $40K.
But the recent trading action isn’t the only reason I’m so confident that bitcoin will beat the Dow to those record levels.
Something happened three months ago that set bitcoin on its path to new highs. That same event occurred two previous times, and in the months that followed bitcoin soared thousands of percent.
I’ll explain what happened in more detail on Sunday – including why I’m confident we’re about to experience the same sort of strength.
Louis will be back in touch tomorrow to try to convince you that the Dow will win the race to 40K. But stay tuned for what I have to say on Sunday.
I hope you RSVP for the free event Wednesday, August 5 at 4 p.m. ET, when Louis and I will sit down together and have our 1-on-1 debate. We both have many reasons to back up our claims, and either way you’ll learn how to set yourself for life-changing profits.