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A legendary investor just released this shocking footage from the streets of San Francisco…
Revealing details on Elon Musk's “Project Apollo.”
As soon as Elon flips the switch on this new project…
Which could happen at any moment…
It could send this $1 play skyrocketing higher.
That seems to be the mood around Bitcoin and the halving that happened a little more than a week ago.
Many folks believed that cryptocurrencies would act like they were shot out of a cannon.
Nothing but “to the moon” from this day forward!
As the kids say today … yeah, no.
The biggest cryptocurrency of them all has gone mostly sideways the last six weeks and done next to nothing since the halving occurred on April 19.
But I’m going to give you a different chart to look at. I’ve shared it before, but it illustrates why folks feeling let down could use some perspective and should feel optimistic.
The chart shows Bitcoin’s price changes in the year before and the year after each previous halving event. I want you to focus on the price of bitcoin right after the previous halving events.
It’s easy to see that after previous halving events, there was no immediate rocket launch. The price sort of meandered for a bit and then takes off in the subsequent weeks and months.
Luke Lango reminded his readers of that again this week.
Bitcoin and altcoins continue to act exactly as history suggests they should act around a halving event. That is, Bitcoin had its typical multi-quarter surge going into the halving followed by its typical pre-halving, knee-jerk crash right before the halving. Totally par for the course.
So, what does the data say will happen next? Luke again…
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As we’ve noted before, Bitcoin always dominates the “first halves” of boom cycles, or the 12 months before a halving. During that time, BTC dominance rises as BTC leads the way and altcoins lag behind. That has indeed happened this time around. Over the past 12 months, Bitcoin has been leading and altcoins have generally been lagging. Again, very typical.
But, in the second halves of the boom cycles – or the 12 months after a halving – altcoins always take the lead. They tend to regain momentum immediately after halving, before fading a bit, then absolutely soaring around seven to eight months after the halving.
Therefore, history suggests altcoins should pick up steam right about now, before absolutely soaring around Christmas 2024 and staying red-hot into early 2025.
No one has a crystal ball, and I’m not making a prediction. But if you like investing with the numbers on your side, it appears there is still a huge amount of upside for select cryptocurrencies.
The fourth Bitcoin halving has set in motion a chain reaction throughout the crypto markets, which could ignite select cryptocurrencies for big gains.
The previous three halving events suggest we’re looking at a potential 12-month bull market wherein dozens upon dozens of smaller cryptos could soar 1,000% or more.
Luke has built a quantitative trading tool that leverages proprietary statistics to identify the most promising breakout cryptos in this new bull market.
And, just this week he debuted this tool for the first time ever to the public.
He also issued his first five breakout crypto trades with this new tool.
Click here to learn all about this tool and his five cryptos to buy today.
Investing with the numbers on your side
Earlier this year, the market was soaring on anticipation of rate cuts from the Federal Reserve. The market was anticipating as many as seven cuts in 2024.
But as inflation progress has stalled, “higher for longer” is becoming the mantra of the market.
The Gross Domestic Product (GDP) reading on Thursday poured cold water over the soft-landing hopes many had for the economy. Now, many traders are only anticipating one rate cut … and not until December, and the dreaded word “stagflation” has started to appear.
Given that the dominant narrative of the first quarter that boosted the market has disappeared, what can you hang your hats on going forward?
Same thing as always…earnings.
And that is right in Louis Navellier’s wheelhouse.
For newer Digest readers, Louis is an investing legend, with a 40-year track record of market-beating gains. He does this by limiting his picks to fundamentally superior stocks with signs of significant institutional buying pressure.
Last week provided a great example of his system at work when Spotify (SPOT) reported positive earnings that surpassed expectations. Here was the summary Louis published in his Accelerated Profits service.
| First-quarter revenue grew 20% year-over-year to 3.6 billion euros, while earnings reached a record 1.0 billion euros. In U.S. dollar terms, Spotify achieved first-quarter earnings of $213.9 million, or $1.05 per share and revenue of $3.95 billion. The consensus estimate called for earnings of $0.70 per share on $3.85 billion in revenue, so Spotify posted a 50% earnings surprise and a 2.6% revenue surprise.
Looking ahead to the second quarter, Spotify expects total revenue of around $4.13 billion, which is nicely higher than current estimates for $4.01 billion. Here is a chart showing the stock’s performance since Louis recommended it to his subscribers on November 23. ADVERTISEMENT  A strange new era for mankind is upon us…
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Click here to see this strange device you could be wearing some day.  Louis looks forward to every earnings season. And results like this help demonstrate why. Here is what he said in a podcast to his subscribers after summarizing the SPOT results. This is what I mean when I say earnings are working; i.e., a stock rallies in the wake of its positive earnings beat. And it’s also a good sign for the rest of our stocks during this earnings season.
Now, not every stock will have good earnings, and Wall Street will likely shoot the stocks that don’t beat estimates. But rest assured; I expect around 95% of our stocks to beat analyst estimates, and so far, so good. In his Accelerated Profits service, Louis only trades the elite 1% of all stocks on the market today.
In all, stocks in this service have forecasted sales (31.1%) and earnings growth (276.3%), as well as a strong earnings surprise history (46.4%). In comparison, the S&P 500 is forecast to report 0.5% earnings growth and 3.5% revenue growth in the first quarter.
That’s a recipe for investing in market leaders – investing in stocks that will beat the market in any earnings season. Click here to learn about Accelerated Profits. Louis names his top stocks every week, so new folks can get going right away!
Enjoy your weekend, |
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