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Why I’m Confident I’ll Win… Explained In Pictures

They say a picture is worth a thousand words.

So if I show you three charts, are they worth 3,000 words?

I don’t know about that part, but I definitely believe they can be worth a lot of money.

These charts are part of the case I’ll make tomorrow in my debate with InvestorPlace colleague Louis Navellier.

As you may know, I have a friendly bet with Louis about The Race to 40K. Specifically, whether the Dow will gain 50% to hit 40,000 before bitcoin gains more than 250% to get to $40K.

We’re going to hash it out tomorrow at 4 p.m. ET. Your registration is confirmed, and I can’t wait. But today, let me give you another sneak preview as to why I’m confident I’ll win.

I own bitcoin and have for a long time. It’s never been a trade for me. It’s about the transformative potential of bitcoin and all cryptocurrencies.

I think we are now in the early stages of what could be a huge run driven by multiple catalysts.

Bitcoin’s recent halvening reduced the new supply of coins coming on to the market at a time when demand is rising.

Bitcoin use is becoming much more widespread and mainstream. Just recently, banks were given the go-ahead to store cryptocurrencies for their customers. PayPal (PYPL) and Venmo plan to offer the buying and selling of cryptos. The biggest and best-known crypto exchange, Coinbase, is reportedly looking at going public. Coinbase has been approved by Visa (V) as a principal member, so it will be easier for users to spend their cryptocurrency like they would cash in a regular old bank account.

So the real question is… Can bitcoin gain 250% faster than the Dow gains 50% to get to 40K first?

I say yes.

Bitcoin is already breaking out, which brings me to the three charts I want to show you. Let’s start with bitcoin. It has gained more than 50% so far in 2020 and blown away the Dow’s 6% loss.

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Now I want to show you the second chart, which is another cryptocurrency called Ethereum. It has the second largest market cap behind bitcoin. It is only about one-fifth the size of bitcoin, but it’s still more than three times bigger than the third-largest coin, XRP.

Ethereum has broken out even more impressively than bitcoin.

Looks like a carbon copy of bitcoin’s chart, doesn’t it?

But when you look at the percentage move, Ethereum’s is even more impressive.

A nearly 60% surge in a little over two weeks has sent Ethereum to its best level in a year. It is by far the best performer of the big cryptos, and its recent breakout is a great sign for bitcoin as well as the smaller altcoins.

You can see that big moves in cryptocurrencies aren’t just possible. They happen.

Bitcoin is the bellwether, and its success will attract more money into the cryptocurrency market.

Bitcoin’s success and its surge in price after previous halvenings give us even more confidence in the future and my bet that it gets to 40K before the Dow.

I can’t wait to talk more about it tomorrow. Louis and I will see you then.

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Why I Bet Bitcoin Will Outperform Stocks

There’s a lot riding on this.

As you know, I have a bet with my InvestorPlace colleague, the legendary growth investor Louis Navellier, about whether bitcoin or the Dow Jones Industrial Average will hit 40K first.

It’s a fun bet for charity, but the ideas behind it are quite serious. I’m glad you’ve signed up to hear us both make our cases next Wednesday, August 5, at 4 p.m. in The Race to 40K debate.

If you’ve read our recent articles, you know I’m also very bullish on stocks and agree with Louis that Dow 40,000 could happen in the near future.

But my best is that bitcoin will get there faster.

Let me give you a sneak preview of a few reasons I’m convinced that will happen

For starters, bitcoin is already hot and bullish sentiment is soaring. It broke through $11,000 on Monday on strong volume, climbing 13% for its biggest single-day gain in nearly three months.

It is up over 55% this year, almost double gold’s increase, while the Dow Jones Industrial Average is down more than 8% – although it’s made a fantastic 40%+ climb off its March 23 bottom.

To reach $40,000, bitcoin still needs to climb 250% from its current level.

Is that doable? Absolutely.

Bitcoin’s breakout makes a lot of sense when you start to consider two big catalysts. One is increasing mainstream adoption. It’s simply becoming more and more a part of our everyday lives.

Rumors are swirling that digital payments leaders PayPal (PYPL) and its smaller mobile payment service Venmo both plan on rolling out cryptocurrency buying and selling to users soon. Venmo has 52 million user accounts and PayPal has 325 million. That’s 377 million more potential customers coming online!

Square (SQ), another digital payments firm helmed by Twitter (TWTR) CEO Jack Dorsey, allows bitcoin purchases in its Cash App – and the feature keeps gaining popularity.

The company reported $306 million in bitcoin revenue in its first quarter, handily beating the $222 million in revenue on all of its other traditional currency services for the quarter.

The federal government also moved in a big way to open up crypto investing to more investors.

Last week, the Office of the Comptroller of the Currency said it will finally allow federally chartered banks to custody cryptocurrency.

I expect we’ll soon see a major bank step up and begin storing crypto for its customers, which means even more folks will be able to invest in bitcoin.

Another Huge Catalyst

Another big reason I think bitcoin will reach 40K faster than the Dow isn’t a future event that might happen. It’s something that’s already happened.

It occurred less than three months ago. It didn’t get much coverage, but it was a trigger that’s set to send bitcoin soaring. After all, it’s happened before.

The first time this event happened in 2012, bitcoin shot up 2,135%.  

The second time it happened in 2016, bitcoin rose 3,122%.  

The third time was on May 11, 2020.  

If we get even one-tenth of the gain we saw in 2016, $40,000 is a done deal.  

I’m talking about the “halvening,” or “halving” as it’s also known. That’s when the reward for mining a bitcoin is cut in half.  

Up until a couple months ago, a “bitcoin miner” received 12.5 bitcoins for mining a block. Miners today receive 6.25 bitcoins as a reward.

The end result is that ALL bitcoins are more valuable.

The two halvenings prior to 2020 show it takes a little time for bitcoin to take off. Bitcoin started to go vertical about five months after the halvening that took place in November 2012.

In 2016, the halvening took place in July, but bitcoin didn’t start to soar until almost a year later.

The latest breakout could well be the start of this next big move, so you haven’t missed out. In fact, you could be in the perfect position to capitalize on bitcoin’s next big boom.

That’s exactly what Louis and I will talk more about in The Race to 40K next Wednesday, August 5, at 4 p.m. ET. It’s going to be a lot of fun and educational.

After all, who doesn’t love talking about big moneymaking opportunities?

I’ll see you then.

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Stocks May be One of the “Best Games in Town”… But My Pick in this Race is Even Better

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 week at our event called The Race to 40K. Your registration is confirmed.

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? 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’ve marked your calendar for 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.