EddieJayonCrypto

 17 Apr 24

tl;dr

Bitcoin (BTC-USD) briefly dipped below the $60K mark for the first time since early March in Wednesday afternoon trading, amidst increased volatility ahead of the highly anticipated halving event. The digital token slid as much as 5% to $59.8K before recovering to $60.3K at 12:53 p.m. ET, marking a ...

Bitcoin (BTC-USD) briefly dipped below the $60K mark for the first time since early March in Wednesday afternoon trading, amidst increased volatility ahead of the highly anticipated halving event. The digital token slid as much as 5% to $59.8K before recovering to $60.3K at 12:53 p.m. ET, marking a nearly 20% drop from its mid-March record high of $73.8K. Ether (ETH-USD) witnessed a 3.1% decline, while solana (SOL-USD), cardano (ADA-USD), and dogecoin (DOGE-USD) all faced selling pressure at the time of writing, highlighting the broader market impact of the increased volatility. The upcoming quadrennial halving event, expected as soon as Friday, is viewed by many as a bullish catalyst for bitcoin (BTC-USD) price, stemming from the reduction in the supply of new tokens. However, SA analyst Florian Grummes cautioned that Bitcoin tends to weaken for approximately 15 to 45 days around the halving. Notably, the weakness in crypto prices has exerted downward pressure on some crypto-related stocks, impacting miners like Marathon Digital (MARA), Riot Platforms (RIOT), HIVE Digital Technologies (HIVE), and Bit Digital (BTBT), as well as Michael Saylor's MicroStrategy (MSTR) and crypto exchange Coinbase Global (COIN).

More about Marathon Digital Holdings Inc

Marathon Digital Holdings Inc

Marathon Digital Holdings, Inc. is a cryptocurrency mining digital asset technology company with a focus on the blockchain ecosystem and digital asset generation in the United States. The company is headquartered in Las Vegas, Nevada.

Industry: REAL ESTATE & CONSTRUCTION

Sector: PATENT OWNERS & LESSORS

Market Cap: 3,907,544,000

Current Price: 13.77

Dividend Yield: None

P/E Ratio: 1.06

EPS: 2.108

Beta: 0.674

Shares Outstanding: 387,508,000

50-Day Moving Average: 26.5

200-Day Moving Average: 0

Relative Strength Index (RSI): 4.517

More about Riot Blockchain Inc

Riot Blockchain Inc Summary

Riot Blockchain, Inc. focuses on cryptocurrency mining operations in North America. The company is headquartered in Castle Rock, Colorado.

Sector: Life Sciences

Industry: In Vitro & In Vivo Diagnostic Substances

Market Cap: 2171453000

Dividend Yield: None

Beta (5Y Monthly): None

EPS: -0.28

PE Ratio: 1.604

Profit Margin: -0.176

Revenue: 280678000

Operating Margin: 19.96

Return on Assets: 2.333

Return on Equity: 0.31

More about HIVE Blockchain Technologies Ltd
Stock Analysis Summary

Company: HIVE Blockchain Technologies Ltd

Description: Aerohive Networks, Inc. designs and develops cloud networks and enterprise Wi-Fi solutions in the Americas, Europe, the Middle East and Africa, and Asia Pacific. The company is headquartered in Milpitas, California.

Sector: Technology

Industry: Services-Computer Processing & Data Preparation

Revenue: $246,338,000

Net Income: -$0.45

EPS (Earnings Per Share): 1.121

Dividend Yield: -0.428

Market Cap: 95,807,000

Current Stock Price: $5.36

50-Day Moving Average: $2.217

200-Day Moving Average: $1.183

More about Bit Digital Inc

Bit Digital Inc Summary

Bit Digital, Inc. is a company in the bitcoin mining business, headquartered in New York, New York.

Sector: Finance

Industry: Finance Services

Market Cap: $214,984,000

Dividend Yield: None

Beta (5Y Monthly): -0.16

Price to Sales (ttm): 0.513

Price to Book (mrq): -0.309

Volume: 44,916,100

EPS (ttm): 5.08

Forward Dividend & Yield: 0 (0%)

Ex-Dividend Date: 1.064

More about MicroStrategy Incorporated
MicroStrategy Incorporated Analysis Summary

MicroStrategy Incorporated Analysis Summary

MicroStrategy Incorporated provides global business analysis software and services. The company is headquartered in Tysons Corner, Virginia.

Sector: TECHNOLOGY

Industry: SERVICES-PREPACKAGED SOFTWARE

Market Cap: 22,117,579,000

Current Price: $47.56

Dividend Yield: None

52-Week High: $136.7

52-Week Low: $26.37

Price/Earnings Ratio: 36.3

EPS: 0.865

Volume: 496,261,000

Average Volume: 1,494.4

Beta: -0.775

Change: -0.061

More about Coinbase Global Inc

Company: Coinbase Global Inc

Description: Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy. The company is headquartered in Wilmington, Delaware.

Sector: Finance

Industry: Finance Services

Market Cap: 51637281000

Stock Price: 560.88

Dividend Yield: None

P/E Ratio: 0.38

EPS: 12.41

ROE: 0.0324

Revenue: 2926556000

Net Income: 224.45

Debt to Equity: 3.27

Current Ratio: 0.494

Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 22 Nov 24
 22 Nov 24
 22 Nov 24