From Nasdaq: 2024-05-06 14:20:00

Bitcoin has weathered negative news and doubled in price over the past year, including the FTX collapse. The recent “halving event” occurring every four years reduces new Bitcoin creation in half, historically leading to price increases. Presidential election years have shown significant Bitcoin gains, with 2020 seeing a +302.8% return.

Positive news continues with Block (SQ) investing 10% of gross profit from Bitcoin products into Bitcoin. MicroStrategy (MSTR) surged 750% in five years after adopting the Bitcoin standard. El Salvador is the first country to adopt Bitcoin. BNP Paribas, the second-largest European Bank, bought Blackrock’s IBIT Bitcoin ETF, adding to the positive cryptocurrency news.

Despite strong performance, retail sentiment towards Bitcoin remains low. Coinbase (COIN) announced EPS of $4.4, exceeding estimates. Retail interest in Bitcoin remains subdued, indicating potential for further growth. Retail investors can access Zacks’ portfolio services like Surprise Trader and Technology Innovators for $1 for 30-day access to stock picks.

Read more at NASDAQ.: Bitcoin Looks Bullish Amid Mass Adoption (Video Included)