Apple, Microsoft, and Google reported their financial results for the second quarter. Despite strong earnings, the companies closed in red yesterday. Why? What to do now?
Crypto stocks to buy now
Information is not investment advice
It’s all about crypto these days. Almost everyone is closely watching for price changes of Bitcoin, Ethereum, and other cryptocurrencies. Bitcoin has become a must-have in every well-balanced portfolio due to its great performance: it rallies up and up to no matter what.
For example, Citigroup, a well-known US investment bank, believes that the BTC can become one day a currency #1 for international trade. While this statement may meet criticism, nobody would argue that it’s better to have some crypto than not. This article will describe a group of stocks that are closely linked to cryptocurrencies and thus has a competitive advantage among its peers.
MasterCard & Visa
MasterCard has already claimed that it is including crypto in its network. The same action was made by MasterCard’s main competitor – Visa. Visa has become a network of choice for digital currency wallets. In addition, it’s planning to offer a full range of crypto assets soon.
Tesla: Bitcoin’s big brother
You couldn’t find a more crypto-friendly company than Tesla. Elon Musk invested $1.5 billion in bitcoins. Moreover, the company claimed it would accept payments in bitcoin for its electric cars. Why is Musk doing that? Cash is exposed to inflationary pressure and has small returns these days. That’s why it’s beneficial for companies to use crypto.
Tesla has approached the March high of $720.00. The move above it will drive the tech giant to the psychological mark of $800.00. Support levels are at the recent lows of $660.00 and $625.00.
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PayPal was the first to allow its users to buy, sell and hold cryptocurrencies directly through its system. According to Bloomberg, PayPal is in negotiations to acquire Curv, a crypto transfer, and storage company. If it manages to finalize this deal, it would push PayPal to the upside.
NVIDIA & AMD: crypto’s backbone
Without these well-known chipmakers, mining would be impossible. NVIDIA has recently announced that it would restart the production of dedicated crypto mining GPUs, which will increase its revenues.
NVIDIA is well below its record highs, making it very attractive for those who want to buy it as it has a lot of space to rise. If it manages to break above the lucky number of $555.00, the way up to the high of February 24 at $580.00 will be open. Support levels are the psychological level of $500.00 and this year’s low of $465.00.
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