Investor Ideas, Trading Ideas and Stocks to Watch : #CryptoCorner #Podcast 593: #Stocks discussed: (NasdaqGS: $TSLA) (NYSE: $WFC)

Wednesday, May 19, 2021

#CryptoCorner #Podcast 593: #Stocks discussed: (NasdaqGS: $TSLA) (NYSE: $WFC)

#CryptoCorner #Podcast 593: #Stocks discussed: (NasdaqGS: $TSLA) (NYSE: $WFC)

#Crypto Bloodbath, Tesla’s BTC Gains Erased, BitBull’s Joe DiPasquale Comments on BTC Drop, and Wells Fargo to Onboard Crypto Strategy

Point Roberts, WA, Delta BC May 19, 2021 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2021/051921-CryptoMarket.mp3

Read this in full at https://www.investorideas.com/news/2021/crypto-corner/05191TSLA-WFC.asp

Get the Crypto Corner Podcast on iTunes

Get the Crypto corner on Spotify

The crypto market is in the midst of a bloodbath this morning, as Bitcoin (BTC) and the majority of altcoins are decidedly in the red, according to data from CoinMarketCap. Bitcoin is down about 20 percent since yesterday’s Crypto Corner, and is trading for roughly $35,000 at press time. An article from Cointelegraph by Mumbai-based financial analyst Yashu Gola points out that this staggering dip puts Bitcoin “below the 20-week exponential moving average for the first time since February 2020,” which could be a bearish signal, though which also “has historically served as a primary downside target for bulls to accumulate BTC.”

Readers/listeners will recall that the current crypto crash has been widely attributed, at least in part, to the decision from Tesla (NasdaqGS:TSLA) to walk back on its recent adoption of Bitcoin payments, and further exacerbated by CEO Elon Musk’s comments which seemed to hint at an offloading of the crypto the company had acquired. Well, elsewhere on Cointelegraph today, William Suberg writes that, as a consequence of the price crash:

“[Tesla’s] profits from its BTC, which at one point totaled more than its entire history making electric cars, evaporated.”

Investorideas.com received the following commentary from Joe DiPasquale, CEO of BitBull Capital, which puts this seeming mayhem into a wider historical context:

"Bitcoin's pattern over the last 10 years has been meteoric rises followed by pull-backs. The trend has been higher highs and higher lows: one year ago today, Bitcoin closed at $9,927 while it now sits at about $39K. While it's certainly fallen from its $63K high, that is still a 300% rise. The fall in price is a natural consolidation period that we see as necessary for the support lines to form for future appreciation. We remain bullish on Bitcoin and confident that we will see Bitcoin at $100K in the future. It has a place in a portfolio as a hedge against inflation and as a truly finite alternative to USD and digital alternative to gold."

Reuters reports that banking and finance giant Wells Fargo (NYSE:WFC) “is planning to evaluate and onboard an actively managed cryptocurrency strategy for its wealthy clients.” An excerpt from a report titled “The investment rationale for cryptocurrencies” reads:

"WFII [Wells Fargo Investment Institute] believes that cryptocurrencies have gained stability and viability as assets, but the risks lead us to favor investment exposure only for qualified investors, and even then through professionally managed funds.”

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood , Acorn, Stash and others.

About Investorideas.com - News that Inspires Big Investing Ideas

Investorideas.com publishes breaking stock news, third party stock research , guest posts and original articles and podcasts in leading stock sectors. Learn about investing in stocks and get investor ideas in cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy, gaming and more. Investor Idea’s original branded content includes podcasts and columns : Crypto Corner , Play by Play sports and stock news , Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast , Cleantech and Climate Change , Exploring Mining , Betting on Gaming Stocks Podcast and the AI Eye Podcast.

The Crypto Corner is part of the Investor Ideas Membership content

The Investorideas.com podcasts are also available on iTunes ( Apple Podcasts) , Audible , Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio, Google Play Music and most audio platforms available.

Visit the Podcast page at Investorideas.com: https://www.investorideas.com/Audio/

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.