The Cryptocurrency Plunge Continues, What's Ahead?

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In the past week cryptos have taken a hit. Let's look at price support levels for Bitcoin and Dogecoin.

MISHMAY 21, 2021

For Entertainment Only

In the past 7 days Internet Computer is down 56%, Polkadot 50%, Biance 48%, Ethereum 42%, Dogecoin 39%.

I confess, I never heard of Polkadot or Internet Computer.

It is only the spectacular action in Dogecoin that got me looking. I watch for entertainment only.

Bitcoin Price Support Levels

Bitcoin Price Support Levels

For those inclined to buy for technical reasons, Bitcoin has support at the $30,000 level. There is also support at the $17,000 level and very strong support at the $11,000 level.

In addition, Bitcoin has minor support levels between $17,000 and $30,000.

Another Uranium Play to Have on Your Radar

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By Andrey Dashkov, analyst, Casey Research

Andrey Dashkov

The U.S. government has decided that nuclear energy is “too green to fail.”

It recently announced it intends to provide tax credits to nuclear energy providers to keep them afloat.

Why?

There are a couple of reasons, which I’ll get into below…

But maintaining these nuclear facilities and infrastructure is a top priority.

That’s good news for the key metal needed to power these nuclear plants: uranium.

And as I’ll show below, the best way to profit involves a little-known yet explosive strategy. One that a Casey Research expert has used for consistent, quadruple-digit gains…

Whether you’re new to the Dispatch, or you’ve been following along in these pages, welcome to today’s edition.

Going Against the Crowd Can Lead to Big Payoffs

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By Teeka Tiwari

“You’re a damned liar, Tiwari.”

I sometimes see comments like this.

Being no stranger to the wrath of internet keyboard warriors, I usually ignore them. I’m used to having my investment ideas attacked. So that doesn’t bother me.

I remember when I started recommending cryptos as part of a well-diversified portfolio. I thought I’d need a bodyguard for all the hate mail I received.

Or when I started recommending ways to play the private equity and collectibles markets… Again and again, I saw the hate mail pour in.

None of it bothered me. In fact, the more an investment idea of mine is hated, the more likely it is I’ve uncovered a winner.

But this particular comment got under my skin. You see, when someone calls me a liar, it’s a little different.

Confronted with a Nightmare Scenario – John Rubino 5.8.2021

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Financial writer John Rubino says there is no easy way out for the financial and political mess the United States has created for itself. Rubino starts with the economic problems and explains, “Now, inflation is starting to spread. . . . Look at lumber. If you are trying to build a house, it’s $35,000 more now than it was two years ago just because of lumber. Iron ore, house prices, grains, food and you name it, we’ve got inflation going on. At the same time, we have an apparent labor shortage. All these companies are coming out and saying we would love to take on all the business we are being offered to us, but we don’t have enough people. Even Uber and Lyft cannot find enough drivers. It’s weird it is happening this soon, but we should not be surprised since we dumped tens of trillions of dollars into the economy over the past year. This is what you would expect if you get the money supply going up 30% or 40%, which it did.

What’s Behind the WTF Spike in Used-Vehicle Prices? My Gut Says, it Can’t Last. But if it Lasts, It’s Scary-Crazy Inflation

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By Wolf Richter for WOLF STREET.

This has been going on for months: Used-vehicle prices spiking from jaw-dropper to jaw-dropper, and just when I thought prices couldn’t possibly spike further, they do.

Prices of used vehicles that were sold at auctions around the US in April spiked by 8.3% from March, by 20% year-to-date, by 54% from April 2020, and by 40% from April 2019, according to the Used Vehicle Value Index released today by Manheim, the largest auto auction operator in the US and a unit of Cox Automotive. All heck has broken loose in the used vehicle market:

The price spike has now completely blown by the prior record spike over the 13-month period through September 2009, which included the cash-for-clunkers program that removed a whole generation of serviceable older vehicles from the market.

3 stocks for the 5G boom

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By David Cohne |

May 4, 2021

The 5G revolution is upon us.

The fifth and latest generation of wireless networking is up to 100 times faster than 4G. This technology will make mobile data faster and help drive next-gen applications such as artificial intelligence (AI) and the Internet of Things (IoT).

While 5G has already generated substantial gains for some stocks, this technology will change the world over the next few years, generating long-term gains for many 5G-related stocks. 5G networks are already up in some U.S. cities, but it’s not widespread yet.

Ethereum breaks away: Several factors power ETH all-time high push

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By Gareth Jenkinson

Ethereum hit new all-time highs after a rocky April. Developers and analysts delve into the factors behind ETH price surge.

Ethereum breaks away: Several factors power ETH all-time high pushANALYSIS

After a recent slump across cryptocurrency markets, Ether has surged to new all-time highs off the back of a number of important events and metrics. Overall, 2021 promises to be a crucial year for the Ethereum blockchain as developers continue to work toward the network’s integration with Eth2, which will see the blockchain part ways with its original proof-of-work consensus algorithm in favor of the touted energy and cost-efficient proof-of-stake consensus.

While the technical details may not concern many day-to-day Ether (ETH) users and traders, the recent price action of ETH, coupled with a number of significant events, suggests that the momentum that has led to ETH hitting a new all-time high at the end of April could continue for some time.