From Nasdaq: 2024-05-29 09:56:00

The cryptocurrency rally has paused, with Bitcoin dropping below $68,500 from its all-time high of $73,750 in March. Despite a 15% decline, experts anticipate a resumption of the rally soon. Bitcoin has already gained 54.3% year-to-date after a 207% surge in 2023.

The recent decline in cryptocurrency prices is temporary, attributed to factors like the Bitcoin halving event, which occurs every four years, reducing block rewards by 50%. Though the event is over, Bitcoin is expected to regain momentum soon. Wall Street also saw a brief halt in April due to concerns over rising inflation and interest rates.

Inflation eased in April, fueling hopes of a rate cut, leading to a stock market rally in May. The consumer price index (CPI) rose by 0.3% month-over-month in April, lower than the expected 0.4%. Year-over-year CPI increase was at 3.4%.

NVIDIA Corporation is a leader in visual computing technologies, with an expected earnings growth rate of 93.7% this year. The Zacks Rank #1 stock has seen a 4.7% improvement in its current-year earnings consensus over the last 60 days. Interactive Brokers Group is a global automated electronic broker with an expected earnings growth rate of 12.9% this year. The Zacks Rank #2 stock has witnessed a 6.9% increase in its current-year earnings consensus over the last 60 days. Coinbase Global provides financial infrastructure and technology for the cryptocurrency economy, with an expected earnings growth rate of over 100% this year. The Zacks Rank #1 stock has seen a 357.3% increase in its current-year earnings consensus over the last 60 days.

Read more at Nasdaq: 3 Crypto Stocks to Buy Amid Ongoing Market Volatility