The End of the “Crypto Winter”?
Bitcoin is down about 70% from its November highs. And Ethereum has dropped 80% from its peak to its bottom. I’ve said in past posts that I’ve always been skeptical of the long-term prospects of the cryptocurrency market. But some crypto analysts are still optimistic. If you are worried about your cryptos and want a reason to hold on, click here for an argument from Ian King, editor of Strategic Fortunes, that predicts a comeback.
If you’re worried about the US stock market and are considering foreign markets as a hedge, you will be interested in a recent recommendation by Alex Green, Investment Director of The Oxford Club. He’s talking China.
Here are some of his reasons:
* China is the world’s second-largest economy. It grew at an average annual rate of more than 9% from 1989 to 2022, and may overtake the US as the world’s largest as soon as 2030.
* Nearly 30% of global manufacturing happens in China. Eighteen of the world’s largest companies are headquartered there.
* It has a growing affluent class, with 5.3 million millionaires, the second-most behind the US. Its middle class is estimated at more than 400 million people.
And, says Alex, the Templeton Dragon Fund (NYSE: TDF) is a good way to play it.
