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
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