From Nasdaq: 2024-04-10 08:58:00

Cryptocurrency stocks continue to rally in 2024, with Bitcoin leading the way. Despite a recent decline, Bitcoin’s price hit an all-time high of $73,750, with a market cap of $1.44 trillion. Analysts predict a rise post the upcoming halving event, projecting $100,000 by 2024-end and $170,000 by 2025. Four crypto-oriented stocks with strong potential for 2024 include NVIDIA Corp., Interactive Brokers Group, Inc., Coinbase Global, Inc., and CleanSpark Inc.

NVIDIA Corp. is a key player in the semiconductor industry, with high value in a thriving crypto market due to its GPUs’ role in data centers and mining. Expected earnings growth rate for the current year is 84%. Interactive Brokers Group, Inc. executes and trades in cryptocurrencies with an expected earnings growth rate of 7.1%. Coinbase Global, Inc. offers financial infrastructure for the crypto economy, expecting earnings growth rate of 462.2%. CleanSpark Inc. operates as a bitcoin miner and owns low-carbon power data centers. Expected earnings growth rate for the current year is 89.2%.

Analysts project a continued rally for Bitcoin, with prices reaching $100,000 by 2024-end and $170,000 by April 2025. Key factors include the upcoming halving event and increased scarcity. Four crypto-oriented stocks with strong potential for 2024 are NVIDIA Corp., Interactive Brokers Group, Inc., Coinbase Global, Inc., and CleanSpark Inc. Each stock holds either a Zacks Rank #1 (Strong Buy) or 2 (Buy), showcasing a promising outlook for investors.

Read more at Nasdaq: The Zacks Analyst Blog Highlights NVIDIA, Interactive Brokers, Coinbase Global and CleanSpark