Cryptocurrencies have been all the rage over the past 18 months or so, but there are also crypto stocks you can buy to get in on the craze — and the big gains! Why would you want to buy crypto stocks? Well, because there are a lot of ways to trade and make money in this sector. And making money, I’m sure, is what you’re here for!
We dove into why I’m so bullish on crypto — because it’s like the internet in the early ’90s — in a video over the weekend… So today’s let’s expand upon that with crypto stocks you can buy.
And we’ll start with a name that was a trade this week in our KingMaker Alerts suite: Riot Blockchain Inc. (Nasdaq: RIOT). Riot had a HUGE move starting back in November, when it was just $6 a share.
It rallied to nearly $80 in mid-February before pausing to digest that big move up in a big sell-off. Cryptos also had a big sell-off over the past few months, but this happened before Bitcoin sank from nearly $65,000 a coin to just above $30,000 (it has since rallied back above $40,000).
In fact, crypto stocks you can buy are almost like a leading indicator, much like gold mining stocks are for gold… or like how energy stocks move in relation to oil…
So now we’re seeing a group of stocks that track crypto. As you can see in the chart, Riot pulled back to its 200-day moving average (the orange line in the chart above), an important area of support.
And that’s where the “King Makers” — big, institutional investors — moved in and bought this crypto stock. So big, so-called “smart money” investors know not to chase stocks when they’re up in the trees, which you can see in the chart above.
And that’s because stocks almost always pull back to their 50- and 200-day moving averages! And after the pullback that shakes out all the late chasers, that’s when you have the chance to buy at good value.
If you want more information on trading crypto, check out KingMaker Alerts!
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So in other words, it’s all of the stocks that could explode within the next 96 hours!