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With Bitcoin booming, keep an eye on mining stocks.
That’s because as Bitcoin pushes higher, the miners typically follow. In fact, with Bitcoin rallying about $9,000 higher over the last week, it came as no surprise that mining stocks, like Marathon Digital, Riot Platforms, or HIVE Blockchain went along for the ride.
All with cryptocurrencies showing big signs of life with the latest banking crises with Silicon Valley, First Republic, and now Credit Suisse. As noted by Coindesk.com, “As the banks fail, opt out and buy bitcoin. That narrative is strong enough to propel the price.”
And while there’s hope Bitcoin can see $30,000, others believe BTC could run to $1 million in the next 90 days – seriously.
As noted by Bitcoinist.com, “Balaji Srinivasan, a former CTO of Coinbase, has placed a $2 million bet that Bitcoin would hit the $1 million price mark in 90 days. This bet was in response to financial expert James Medlock who proposed a $1 million bet that the US would not enter hyperinflation despite the recent collapse of banks in the country.”
“In a Twitter thread on March 17, Balaji explained his views and why he was proposing the bet. He claims the current banking situation is similar to the 2008 financial crisis, but this time, central bankers, banks, and regulators have lied to all dollar holders and depositors.
In the commodity Futures market a picture could actually be worth thousands of pounds in the right hands!
Price Charts are essential for gaining a trading edge in the Futures market. If you were to trade just using the prices listed in the financial press, it would be impossible (unless you are blessed with some super photographic memory) to work out what is happening in the market.
By using charts in partnership with the Trading Exchange Strategy we can directly identify those specific points in time when we should be LONG (buying contracts) or SHORT (selling contracts).
Elite Wall Street trader, Joe Duffy, is allowing a limited group of future-elite investors into his masterful daily trades at thousands of dollars less than what others charge.
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The first profit opportunity we will consider this week is a stock purchase in ASX, or ASE Technology Holding Co Ltd. ASX offers semiconductor assembly and testing services. ASX is based in Taiwan.
The monthly chart shows that ASX went almost straight up from the 2020 low until the 2021 high. After a pullback, the bulls are back in control and a further advance is expected.
The daily chart shows that ASX was very bullish from the October low until the February high. ASX has been going sideways since then. Sideways trading in a bull trend is usually followed by a further advance.
We recommend buying ASX stock at the current price level. The ASX dividend yield is 4.9%.
PLEASE READ: Auto-trading, or any broker or advisor-directed type of trading, is not supported or endorsed by TradeWins. For additional information on auto-trading, you may visit the SEC’s website: All About Auto-Trading, TradeWins does not recommend or refer subscribers to broker-dealers. You should perform your own due diligence with respect to satisfactory broker-dealers and whether to open a brokerage account. You should always consult with your own professional advisers regarding equities and options on equities trading.
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