Companies associated with Bitcoin lead the list of cryptocurrency stocks to keep an eye on this season as Holi 2024 draws near.
A number of analysts predict further strong surges in cryptocurrency equities before the year ends, and the Festival of Colour celebrations are quickly approaching. Because of the skyrocketing prices of cryptocurrencies, stocks of businesses exposed to digital assets typically climb during a bull market. These are a few of the leading cryptocurrency stocks for Holi 2024.
During bull markets, investors frequently favour MicroStrategy (MSTR), a business analytics program. The chairman of the board, Michael Saylor, is a well-known Bitcoin bull who predicts additional capital will pour into the market leader.
The corporation has gained notoriety for its massive Bitcoin acquisitions, which have increased its exposure to the cryptocurrency. The current market value of MicroStrategy’s 214,466 tokens is almost $14 billion. The price of MSTR has dropped 4.7% from the previous day, trading at 1,523.
This season, keep an eye on Marathon Digital (MARA) and other crypto stocks like it thanks to the current influx of capital into the Bitcoin (BTC) market. There have been two major developments that have led many to believe that the share price of this bitcoin mining firm will rise. To begin with, crypto miners have benefited from the influx of capital that has followed the establishment of spot Bitcoin ETFs, which has helped to recoup some of the losses suffered during the market crash of 2022.
The second reason is that investors are looking for a price increase for Bitcoin because of the approaching halving event, which is considered as a bullish period. A day trading loss of 4% has put MARA at $20.87.
Core Scientific (CORZ) is a NASDAQ-listed cryptocurrency mining company that could turn a profit if the price of bitcoin were to rise. In anticipation of the impending halving, crypto miners have beefed up their preparations for the forthcoming bullish phase and subsequent reduction in rewards. In preparation for its future growth, the firm has just purchased a 16MV data centre. After falling 2% in the previous day, CORZ is now trading at $3.39.
The value of Coinbase (COIN), the most popular US-based digital asset exchange based on trade volume, has risen steadily since it first appeared on the NASDAQ in 2021. A crypto stock to keep an eye on is COIN, since there has been more on-chain activity since Q42023 and Bitcoin’s price has soared to an all-time high. In the previous day, COIN’s value has dropped 2% to $255.
One such cryptocurrency stock to keep an eye on in Holi 2024 is Nvidia Corp (NVDA), which makes graphics cards for miners. In the weeks leading up to the impending halving, miners have ramped up their capacity, driving up the asset’s price. The gaming business is also good for a company’s stock market performance. The asset’s price has risen 3.1% in the last 24 hours, reaching $942.
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