Folks who have been in the cryptocurrency game for a while might be used to this type of stuff by now.

Crashes of 50% are not unheard of in the world of crypto. You cannot expect these digital assets to act like blue-chip stocks. They are not something to rely on for an upcoming retirement for example.

If you can deal with the volatility, though, then the upside possibility is powerful. Keeping Bitcoin through the pullbacks has, so far, been a profitable strategy in the long-run.

Still, your resolve and patience might be tested time and again.

That is why it’s worthwhile to re-think your crypto holdings and decide what motivates you to keep your position.

Looking at the Bitcoin Price

Bitcoin began 2021 just under $30,000, but investors were soon to go through a roller-coaster ride.

The Bitcoin price lowered, but then suddenly spiked towards $60,000 in Feb. Then we saw more value volatility and another shakeout, followed by yet another huge rally.

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Bitcoin then topped at $64,863.10 in April. At that time, the price was actually double its ytd number.

I have said it before, and here it is again. If you chase after vertical moves, you might get severely hurt.

People who buy Bitcoin over $60,000 might have regretted it as the price went down during the next few months.

In July, BTC briefly went under $30,000 but then came back to hit $34,000. This might represent a great discount or a dangerous knife, depending upon which perspective you have.

My point is that investing when others are capitulating is a good strategy to have.

The Bitcoin price will move around a lot. That is how it goes in this world of crypto, as volatility is to be anticipated.

It is up to the investor to decide if the price pullbacks are good opportunities to buy or not.

But looking at Bitcoin’s history of downfalls and comebacks – and in light of Elon Musk’s current attitude to Bitcoin – a return to $60,000 looks to be in the works.

Author: Blake Ambrose

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Despite interest being at record lows, banks are finding ways to bring in record profits — and financial stocks are some of the best stocks this year because of this. Usually, banks are loved by larger investors for their safer status and benefits and steady money streams, but this year many of these gems have given growth stock like returns.

For example, both of these companies just gave their second-quarter earnings reports and their numbers suggest there is a lot of growth left.

1. Ally Financial

Analysts believed Ally will generate $1.46 in eps for their second quarter, but the firm crushed that number by giving $2.33 — a 59% win and its highest on record quarterly number. It was fueled by a record 3.5 million vehicle originations and 81% y/y growth in home originations, which is the firm’s fast-growing move into the mortgage sector.

Ally kept its spot as America’s number 1 all-digital bank, with its 49th quarter of growing its customer base, getting 19% compounded growth since the year of 2010.

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The company also managed to expand its book value by 15% y/y to $38.80, which means its stock is selling at only 1.2 times tangible book value as of its close on Monday. A price-to-book ratio near to 1 is normally thought to be cheap for a bank expanding at Ally’s rate.

The 25% boost to the fiscal ’21 share buyback could be the largest sweetener for stock buyers. Now marked at $2 billion, that is more than 10% of the overall shares at this price. Also, the company has unveiled a 32% increase in its dividend, getting to $0.25 a share for the next quarter.

2. Western Alliance Bancorporation

Western Alliance is a bank specializing in lending to small-to-mid businesses — which makes up 68% of its overall loan portfolio — and the company has a smaller but quickly growing consumer book. On this consumer side, it has placed a big wager on mortgages with its purchase of AmeriHome, done in April. It is the third-biggest mortgage buyer in the United States, and is expected to give more growth for the company.

Analysts were predicting $1.96 in Q2 eps, but the company brought in a 16% surprise at $2.29. The beat was fueled by the bank’s consumer sector, where growth far outdid commercial loans — leveraging the on-fire housing market.

The company also expanded its book value by 18% y/y to $32.86. That puts it at 2.9 times tangible book value compared to Monday’s numbers. Even though it is on the high mark, as the benefits from the recent acquisition keep flowing, it might lead to a good uptick in book value in the next quarters.

Analysts believe Western Alliance will give $8.08 in full-year eps in 2021, representing a 60% growth compared to the 2020 numbers. If the company continues this pace, especially with opportunities given by AmeriHome, it means there could be a lot more earnings beats in the future.

Author: Scott Dowdy

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Bitcoin fell under $37,000 after just briefly going past $40,000 after Amazon.com Inc.’s denial that it posted a job listing for a digital currency executive as a part of a plan to accept a token for payment.

Earlier on Monday, the job posting from Amazon sought an executive to create the company’s “digital currency strategy” caused questions among analysts about whether the move might lead to Amazon accepting Bitcoin as payment.

Shortly before 4 p.m. however, an Amazon spokesperson denied that the company will be accepting Bitcoin for payments this year. The announcement caused its price to fall down to $37,598.

Bitcoin has now fallen by as much as 3.5% and was selling for around $36,620. Rival coins including Litecoin and Ether also lowered.

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Investors rushing to cover their bearish investments had drove the earlier uptick that pushed the coin at one point higher by 17% this Monday to $40,545, its highest point since June 15. Over $950 million of crypto shorts were liquidated this Monday, the highest since May 19, according to Bybt.com.

“Shorts were mounting as we were going down, assuming we were thinking of a minimum of $25,000, which was anticipated across the board,” said Vijay Ayyar, with crypto exchange Luno. “But then we saw heavy accumulation around $29,000 which caught many of those shorts and then led to the spring higher.”

Bitcoin’s current value volatility is one part of a wider multi-wave move after hitting a record back in April, Ayyar said. The price might rebound to as high as $45,000 in the short-term before another possible decrease to finish the correction, he said.

“We are still watching the correction happen,” he added.

Meanwhile, Bloomberg reported a United States probe into Tether is researching whether or not executives behind it committed bank fraud. Ether was lower by as much as 5%, reversing its Monday advance before an upgrade was due on Aug. 4 that will lower the number of outstanding tokens by destroying a number of them every time it is used to drive transactions on the world’s top blockchain.

Author: Steven Sinclaire

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If you have ever wondered why Wall Street gives such close focus to a 90yo investor who believes in holding positions in top businesses for a long time, look at Warren Buffett’s record and you will see why.

Buffett has led his investment company to an average ROI of 20% after taking over the company in 1965.

As the summer continues, the following two Warren Buffett stocks are standing out as really great buys.

Amazon

Amazon is top dog when it comes to online shopping. This year, the firm’s marketplace is anticipated to control around $0.40 of every $1 spent online in this country.

But what you might not understand about Amazon is that it is overwhelmingly dominant in its second industry, as well. Amazon Web Services (AWS for short) raked in 32% of global cloud spending in Q1.

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Cloud infrastructure is still new and early in its expansion, and it is a much higher margin sector for Amazon when compared to retail. Thus, AWS will send Amazon’s cash flow to the moon as it expands into a greater percentage of total sales.

For the previous 11 years, investors have routinely valued Amazon with a multiple of up to 37 times its cash flow. If this stays intact, a tripling of its stock is a possibility by mid-decade.

Bristol Myers Squibb

Bristol Myers Squibb is a special company because of its organic growth possibility and astute dealmaking.

The company, along with Pfizer, co-developed the top oral anticoagulant, called Eliquis, which is on pace for over $10 billion in total sales this year. There is also cancer immunotherapy Opdivo, which is getting looked at in dozens of continuing clinical trials. Opdivo is already raking in around $7 billion yearly, and could go higher with more label expansion opportunities. With everything added up, eight therapies are in line for at least $1.2 billion in sales in 2021, based on extrapolated Q1 totals.

In a world where premiums are increases, it seems unjust that a firm so profitable might be valued at just 8.5 times Wall Street’s estimated earnings for next year.

Author: Scott Dowdy

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Amazon is seeking to accept Bitcoin payments “by the end of 2021,” and is looking at creating its own token for 2022, says a person inside the company.

The internet giant has sent Bitcoin fans into overdrive over the weekend after posting a job advertisement for a crypto and blockchain leader.

The vacancy, clearly a sign the company is starting down a path towards crypto transactions, calls for someone who can “leverage expertise in distributed ledger, blockchain, cryptocurrency and central bank digital currencies.”

It adds that it wishes to “create the case for these capabilities which should be created, drive vision and strategy, and get leadership and investment for new possibilities.”

It does not take a genius to know where Amazon is going with this, and according to an insider, the plans go much deeper than just hiring someone to look at possibilities.

“This is not going through the motions to create a cryptocurrency solutions at some time in the future – this is a well-researched, integral part of how Amazon will work in the future,” she said.

“It starts with Bitcoin – this is the initial stage, and the directive is being pushed from the top… Jeff Bezos himself.”

The insider also said that directors of the company were also going to move towards accepting the other big cryptos once it accepts Bitcoin.

“Ethereum, Bitcoin Cash and Cardano will be the next ones in line before they come out with eight of the top cryptocurrencies,” she said.

“It won’t take very long since the plans are already done, and they have been pushing for this since 2019.”

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Ready to go

“This whole project is pretty much ready to go.”

It is possible that the involvement of a huge player with the size of Amazon in the crypto space would increase adoption and the value of Bitcoin and the popular alt coins, but it is Jeff Bezos’ next plan which might lead to even greater intrigue.

“With all these crypto ducks being lined up, there is another twist to drive things even more into Amazon’s favor – a native crypto token,” the insider said.

“After a year of having cryptocurrency as a way to make payments for goods, it is seeming increasingly likely that we are going towards tokenisation.”

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Elon Musk has said his company Tesla will possibly start accepting bitcoin in purchases for vehicles again.

“It seems that bitcoin is going a lot more toward renewables and many of the heavy coal plants that were used before…have been stopped, especially inside China,” said Musk this week at The B-Word conference, a virtual event put on by the Crypto Council.

“I want to do some more due diligence to be sure that the ratio of renewables is near or higher than 50% and there is a movement toward growing that number. If this is the case, Tesla will very likely continue accepting bitcoin,” he said.

In May, Musk revealed on Twitter that his company would stop vehicle purchases being made using bitcoin out of worries over the “quickly increasing use of fossil fuels for the mining of Bitcoin.”

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Since then, China has cracked down on cryptocurrencies, removing the nation’s crypto miners, who have since started to go elsewhere. New numbers from Cambridge University reveal many miners are going to the U.S., which is now the 2nd largest destination for the globe’s bitcoin miners.

The United States features some of the cheapest sources of energy in the world, which, a lot of the time, are renewable. Fred Thiel from Marathon Digital predicted that most miners new to the nation will be fueled by renewables, or gas which is offset by renewable energy sources, and Compass executive Whit Gibbs predicted that bitcoin mining in the country is over 50% fueled by renewables.

“Renewable energy is long-term the cheapest energy source, but it does not just happen overnight,” Musk said. “But if there is a determined, conscious and real effort by the Bitcoin mining community to move to renewables, then Tesla can of course back that.”

This comes at a time when Bitcoin has taken a major fall, only to regain some of its lost territory. With both bulls and bears watching the chart awaiting its next move. Other cryptocurrencies like Ether and Doge coin have followed in Bitcoin’s footsteps by dipping and regaining this week.

Bitcoin was selling almost 8% higher this week.

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Nvidia shares boosted this Thursday, increasing Wednesday’s gains after a Citigroup analyst named Atif Malik increased his price target on the company after their 4-for-1 split.

Malik raised his one-year target on the company to $223 from $180 and maintained his buy rating on the shares after the 4-to-1 split which happened this week during what he says is recovering demand for Nvidia’s products, despite the previous pullback.

Specifically, Malik stated in a research note to his clients that he sees any crypto linked or gaming linked pullback in the second part of 2021 as an opportunity to buy as Nvidia prepares to launch its next generation of GPUs in 2022, and its new Grace CPU in 2023.

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In May, Nvidia unveiled its plans to do a 4-for-1 stock split to allow more people to buy shares. The split went into effect this week.

Analysts have praised Nvidia since their Q1 results, which came in even better than expected during strong hyperscale data center demand, which included a demand for its GPU products for both video games and mining crypto.

Even before this, analysts were bragging over Nvidia’s performance given the huge demand for its gaming products, which surged during the pandemic and stay-at-home orders that increased demand for in-home entertainment such as video games, made worse by the global chip shortage that boosted the demand, along with prices, for the chips used within the cards themselves.

Jim Cramer is bullish on Nvidia, and has been for some time, not just because the company’s long-term prospects but also due to its strategy to buy Arm Holdings, a British company that designs CPUs that are used in cellphones, tablets and PCs and Macs, which will boost its already good sales pipeline that has been linked to demand from crypto miners.

For its fiscal Q2 which ends in July, Nvidia anticipates revenue of $6.3 billion, higher than FactSet’s estimates of $5.47 billion, fueled by gains among all its segments, led by cryptocurrency, data center, and video games.

At last count, shares of Nvidia were higher by 0.76% at $195.58. The stock is higher by 2.77% in the previous month and over 48% since the beginning of the year.

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When it comes to the stock market, winners tend to keep winning. When a stock is on fire, there are usually great reasons why this is the case, so focusing on companies that are doing great and have already given great gains is one way to build your wealth. With this in mind, here are two companies whose prices have doubled over the previous couple of years and still seem well-stationed to double again.

Etsy

Before the pandemic, Etsy has had already made itself the premier purveyor of custom products, as well as craft vintage goods. On its platform, buyers can get an endless assortment of one-of-a-kind things. Demand for their offerings accelerated last year and is showing no sign of slowing down.

Etsy has a scale no other handmade goods market can match. It sells 92 million unique products from 4.7 million sellers and over 90 million buyers. Gross merchandise sales grew by 132% y/y in the first quarter this year. This helped push revenue up by 142%, while its profits increased over 11-fold.

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The company is keeping and even growing its gains from 2020. Management took note during the first-quarter earnings call that the company was “focused on pushing frequency” and found “buyer triggers.” As one example, management stressed its update tab, “It is very encouraging that now 13% of app visits include a look at the updates tab, and 27% of these visits have buyers clicking on one or greater listings that we have in updates.” This helps show the work that Etsy is doing to continue to attract and increase sales.

NVIDIA

When it comes to GPUs, no company can get near NVIDIA. It created the processing chips that allow computers and consoles to produce lifelike imagery in video games, and it is the top dog in the sector with a 81% share as of Q1 of 2021. NVIDIA’s gaming sector sales increased 106% y/y in its fiscal 2022 first quarter. That alone should be reason to buy the stock.

But NVIDIA’s biggest profit source might not be the gaming industry soon. Its cutting-edge hardware and software have become the industry standard in numerous accelerating technologies, including data centers and close, and AI. The company’s data center sales, which are being fueled by all of those important trends, increased 79% in the most recent period, and there is still a long runway for growth ahead.

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Social Security receivers are in line to get the largest cost-of-living raise in almost four decades, driven by a returning economy that is causing the biggest boost in inflation in years.

The Senior Citizens League, a group that centers on topics related to older Americans, says they estimate the change could be as much as 6.1%, given the June inflation numbers, which revealed that consumer prices in the month went up 5.4% from the year before, the fastest y/y increase since 2008.

The annual S.S. change is found given the CPI for Urban Wage and Clerical Workers, or also called the CPI-W.

Should Social Security receivers get a 6.1% boost to their monthly income in 2022, it would mean the biggest annual change since 1983, when they got a 7.4% bump. The Senior Citizens League said they expected the COLA for next year to be possibly 5.3% given the data from May.

“This is inflation on steroids, mostly caused by energy prices,” Mary Johnson, a Social Security researcher for the group, previously stated.

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In 2021, recipients got one of the lowest COLA boosts, with a raise of only 1.3%, or around an extra $20 per month.

The estimated figure might still be going to change, and ultimately depends on the economy’s performance over the future months and if the Fed raises rates to fight inflation.

Chairman Jerome Powell hinted last week while speaking on Capitol Hill that central bank officials are not discussing pumping the brakes at any time in the near future, informing lawmakers that America’s economy is some “ways off” from where it must be for the Fed to start unwinding its monetary policies established during the pandemic.

The SS Administration will give the final change percentage in October.

Since 2000, benefits have lost around 30% of their purchasing power because of inadequate changes that underestimate inflation and increasing health care costs, as reported by the Senior Citizens League.

The group has urged Congress to accept legislation that would link the adjustment to inflation indexes for seniors, like the CPI for the Elderly, also known as the CPI-E. That index directly tracks the spending of people aged 62 and above.

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