tl;dr
Bitcoin experienced a rebound earlier this week, which has since drawn to a close as the cryptocurrency prepares for an upcoming halving event next month. The price volatility of Bitcoin is on the rise, with the digital token sliding 4% to $63.8K, erasing gains recorded earlier in the week. Ethereum...
Bitcoin experienced a rebound earlier this week, which has since drawn to a close as the cryptocurrency prepares for an upcoming halving event next month. The price volatility of Bitcoin is on the rise, with the digital token sliding 4% to $63.8K, erasing gains recorded earlier in the week. Ethereum, the largest altcoin by market cap, also retreated 4.6% from its recent rise.
This increase in price volatility for Bitcoin is evident in the standard deviation of the last 30 days' daily percentage change, which rose to 78.92% on Thursday from 46.5% on January 1. With BTC trading nearly 15% below its record high of $71.3K, traders may be in profit-taking mode ahead of the April halving. This event, which occurs about every four years, reduces the supply of new bitcoins entering the market, potentially driving up the coin’s price if demand remains constant or rises. As a result, crypto-tied stocks have mostly been trading in negative territory, including Riot Platforms, Marathon Digital, HIVE Digital, Bit Digital, MicroStrategy, Coinbase, and Galaxy Digital.
More about Riot Blockchain Inc
Riot Blockchain Inc is a company focused on cryptocurrency mining, with its headquarters in Castle Rock, Colorado. The company operates in the life sciences sector, specifically in vitro and in vivo diagnostic substances. With a market capitalization of $3.04 billion, the stock has shown a strong performance, with a current price of $20.09 per share and a 52-week high of $2.333. The stock has experienced a bullish trend, with a positive Relative Strength Index (RSI) of 1.604. However, it is important to note the potential risks associated with cryptocurrency markets and the inherent volatility in this sector. Past performance is not always indicative of future results, and investors should carefully consider these factors before making any investment decisions.
More about Marathon Digital Holdings Inc
Marathon Digital Holdings Inc is a cryptocurrency mining digital asset technology company focused on the blockchain ecosystem and digital asset generation in the United States. With a market cap of $6.06 billion and a stock price of $21.38, the company has seen a steady rise in its stock performance, with a 52-week low of $1.06 and a high of $26.16. The market sentiment appears to be bullish, with a strong focus on the potential growth of the blockchain industry. However, it's important to note the volatility of the cryptocurrency market and the potential risks associated with investing in this sector. Past performance is not indicative of future results, and investors should consider the uncertainties in the market before making any investment decisions.
More about HIVE Blockchain Technologies Ltd
Based on the financial data, HIVE Blockchain Technologies Ltd and Aerohive Networks, Inc. are both in the technology sector, specifically in computer processing and data preparation services. HIVE's stock performance shows a decrease of 0.45, with a market sentiment of 1.121 and a decrease in volume of -0.428. Aerohive Networks, Inc. has a market sentiment of 5.39, with a volume of 2.217 and a decrease of 1.183. It is important to note that past market behavior is not always a reliable indicator of future performance, and there are potential risks or uncertainties associated with these stocks.
More about Bit Digital Inc
Bit Digital Inc, a finance services company in the bitcoin mining business, has reported a net income of -0.16 and an EPS of 0.513. The stock has shown a bearish trend with a decrease of -0.309 and a trading volume of 44916100. The company's stock performance has been volatile, with a current price of 5.8 and a high of 1.064. Market sentiment towards Bit Digital Inc is uncertain, given the high volatility and bearish trend in the stock performance. It is important to consider potential risks associated with investing in this company, as past market behavior may not indicate future performance.
More about MicroStrategy Incorporated
MicroStrategy Incorporated is a technology company that provides global business analysis software and services. The company has a market capitalization of $26.24 billion and a stock price of $58.47. The stock has shown a 52-week high of $1171.75 and a low of $26.45. The stock has experienced a decrease of 0.775 points, or 0.061%, indicating a potential bearish trend. The market sentiment towards MicroStrategy Incorporated is uncertain, with the stock price showing significant volatility. Investors should consider the potential risks associated with this stock, as past performance may not be indicative of future results.
More about Coinbase Global Inc
Coinbase Global Inc, a provider of financial infrastructure and technology for the crypto economy, has a market capitalization of $63,476,052,000 and a stock price of $727.78. The company has reported a profit margin of 0.36 and a return on equity of 12.41, with a relatively low debt-to-equity ratio of 0.0324. The stock has a relatively high trading volume of 2,926,556,000 and a beta of 0.494. These financial metrics indicate a strong position in the market and a positive sentiment towards the company's performance. However, it's important to note the inherent risks associated with the volatile nature of the cryptocurrency market, which may impact future performance.
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