While the cryptocurrency market remains under pressure, equity markets have been showing strength due to favorable macroeconomic trends. The Nasdaq Composite hit its 14,317.66 all-time high yesterday, while the S&P 500 is currently hovering marginally below its all-time high. Declining unemployment claims and rising industrial and manufacturing activities have driven renewed interest in growth stocks, as evidenced by Vanguard Growth ETF’s (VUG) 6.6% gains over the past month versus the broader S&P 500 index’s 2.2% returns.
Given this backdrop, we think the prices of growth stocks McDonald’s Corporation (MCD) and Linde plc (LIN) could hit fresh highs in the near term. In fact, it could be smart to now liquidate one’s investments in bitcoin and reinvest the money in these two stocks.