From Nasdaq: 2024-04-01 10:12:00

In the first quarter of 2024, the cryptocurrency market performed well, with Bitcoin reaching an all-time high of $73,750 on Mar 14, with a market capitalization exceeding $1.44 trillion. Despite a drop to $70,657 on Mar 29, Bitcoin remains strong with potential for growth due to recent events and market conditions.

The recent decline in Bitcoin value is partially attributed to profit booking and a slight inflation increase. However, Bitcoin experienced a 67% growth in the first quarter of 2024 after a 157% increase in 2023, indicating its resilience in the market.

The approval of 11 spot Bitcoin exchange-traded funds by the SEC in January and the upcoming Bitcoin halving event have contributed to the ongoing rally of Bitcoin. These factors are expected to enhance the adoption and mainstream integration of cryptocurrencies in the financial sector.

NVIDIA Corporation (NVDA), a key player in the semiconductor industry, saw significant success in 2023 due to its involvement in GPU design and cryptocurrency mining. With an expected earnings growth rate of 84% and a Zacks Rank #1, NVDA is poised for further success in 2024.

CME Group Inc. (CME) offers options for buying/selling cryptocurrency futures contracts, including Bitcoin and ether options. With an expected earnings growth rate of 3.1% and a Zacks Rank #3, CME provides a platform for crypto futures trading.

Coinbase Global, Inc. (COIN) provides financial infrastructure to support the global cryptocurrency economy, with an expected earnings growth rate of 354.1% and a Zacks Rank #1. COIN offers services for consumers, institutions, and developers in the crypto space.

BlackRock, Inc. (BLK), one of the largest investment managers worldwide, joined the Bitcoin ETF market in 2023. With an expected earnings growth rate of 5.4% and a Zacks Rank #3, BLK continues to explore opportunities in the cryptocurrency sector.

Read more at Nasdaq: 4 Crypto Stocks to Watch Ahead of Bitcoin Halving Event