Newsletter Dec. 28, 2020

New Money Traders | December 28, 2020

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2021 Outlook and President Biden 

The year is drawing to a close and with it a dawning of new US Presidential administration. The stock market saw record gains under the Trump administration. But will Wall St. maintain the torentail pace it has been on for the last several years, or will it slow under the Biden/Harris regime? A CNBC poll indicates that two thirds of CIOs, portfolio managers and other high level investors believe that the next four years will be worse for the markets. While there was consensus that the DJA would hit 35,000 many people in the know assume that the growth will be more gradual. 

What are some investment alternatives to stocks? 

Cryptocurrencies like Bitcoin (BTC) had huge rallies in 2017 before crashing like it was 1929. However, the world’s most popular cryptocurrency is again at all time highs. This time analysts believe it has a long way to go before topping out. Bitcoin and other cryptocurrencies are gaining more mainstream appeal. Hedge Funds are among the investment power brokers to get in on the craze this go around. Bitcoin is now trading above $27,000 after finally cracking the $20,000 ceiling earlier this month. 

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