For Immediate Release
Chicago, IL - July 5, 2018 - Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: ( https://www.zacks.com/stock/news/310212/is-it-time-to-buy-the-cryptocurrencies-and-blockchain-stocks )
Is It Time to Buy Cryptocurrencies and Blockchain Stocks?
Welcome to Episode #136 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.
In this episode, Tracey teams up with David Bartosiak, the editor of Zacks Blockchain Innovators newsletter, to discuss the wild ride on the cryptocurrencies this year, specifically Bitcoin and Ethereum, as well as taking a look at what's happening with the blockchain stocks.
Cryptocurrencies Plunge Again
If you sold your cryptocurrencies at the highs in December and January, you're looking like a genius because some of the coins are down over 70% from those highs.
Bitcoin and Ethereum are the two largest players, so Tracey and David kept the discussion simply to those two.
Bitcoin traded under $6000 before rebounding, but it is still well above its July 2017 level. If you were a long-term investor, you're still up for the year.
Ethereum is a little different as it's a smart technology with Ethereum blockchain. It has a different utility than Bitcoin.
Should investors consider getting in at these low levels? Or is there more pain to come?
Blockchain Stocks: The Good, the Bad, the Ugly
The financial companies are adding initiatives that use the blockchain technology.
Square SQ has added crypto cash to its app in New York State. Mastercard MA has applied for new patents for blockchain transactions.
Net Element is a small company that specializes in mobile payments but it recently terminated an agreement it had to develop blockchain technologies. There's going to be a lot of stop and go in this technology.
Kodak saw its shares soar when it announced it was creating a coin that would allow photographers to be paid for their copyrighted images. It has actually rolled out agreements with some companies to do exactly that.
But the shares have tanked in 2018, falling 30% in the last month.
Is Kodak a buy or is more pain to come?
Buying on Weakness
This is still the early stages of cryptocurrencies and blockchain. There are always new developments.
Some early investors will be rewarded. Think of Amazon or Priceline in its early days.
But others will end up in Yahoo or Pets.com.
What else should you know about buying the cryptos and investing in blockchain stocks right now?
Find out the answers on this week's podcast.
Wall Street's Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It's a once-in-a-generation opportunity to invest in pure genius.
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