Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Drop Bitcoin and Buy These 2 Growth Stocks That Are Ready to Takeoff

Stock MarketsJun 24, 2021 12:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Drop Bitcoin and Buy These 2 Growth Stocks That Are Ready to Takeoff

Bitcoin has been slumping over the past couple of months due primarily to China’s intensifying anti-cryptocurrency crackdown. Conversely, as the global economy continues to recover at an impressive pace, we think growth stocks McDonald’s (MCD) and Linde (NYSE:LIN) are well-positioned to perform much better than bitcoin in the near term. Read on for some details.Bitcoin has taken a hit since China increased its crackdown on domestic cryptocurrency mining owing to environmental concerns. Approximately 65% - 75% of global bitcoin mining is concentrated in China. However, the government crackdown has halted roughly 90% of China’s bitcoin mining capacity. Bitcoin has nearly halved in value since hitting its all-time high of $64,863.10 on April 14 and has declined 11.8% over the past five days. While bitcoin has gained slightly over the past two days, the cryptocurrency markets are expected to remain subdued in the near future.

While the cryptocurrency market remains under pressure, equity markets have been showing strength due to favorable macroeconomic trends. The Nasdaq Composite hit its 14,317.66 all-time high yesterday, while the S&P 500 is currently hovering marginally below its all-time high. Declining unemployment claims and rising industrial and manufacturing activities have driven renewed interest in growth stocks, as evidenced by Vanguard Growth ETF’s (VUG) 6.6% gains over the past month versus the broader S&P 500 index’s 2.2% returns.

Given this backdrop, we think the prices of growth stocks McDonald’s Corporation (MCD) and Linde plc (LIN) could hit fresh highs in the near term. In fact, it could be smart to now liquidate one’s investments in bitcoin and reinvest the money in these two stocks.

Continue reading on StockNews

Drop Bitcoin and Buy These 2 Growth Stocks That Are Ready to Takeoff
 

Related Articles

Asia stocks sidelined as funds flock to Wall St
Asia stocks sidelined as funds flock to Wall St By Reuters - Jul 25, 2021 1

By Wayne Cole SYDNEY (Reuters) - Asian shares struggled to rally on Monday as super-strong U.S. corporate earnings sucked funds out of emerging markets and into Wall Street, where...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email