From Nasdaq: 2024-06-20 08:16:00

The cryptocurrency rally that began in 2023 came to a halt in April, with Bitcoin suffering the most. Despite a 18% price drop in the past two and a half months, Bitcoin remains up 53.8% year to date and 157% in 2023. The recent approval of 11 Bitcoin ETFs by the SEC has provided regulated access for investors, enhancing liquidity and price stability.

Federal Reserve Chairman Jerome Powell announced only one rate cut in 2024, significantly lower than previous projections, reinforcing low interest rates. Growth assets like technology stocks and cryptocurrencies stand to benefit from this environment. Investors should consider a long-term perspective as the Fed shifts towards lower rates.

Four promising crypto-oriented stocks to watch in 2024 include Interactive Brokers Group (IBKR), Coinbase Global (COIN), NVIDIA Corporation (NVDA), and Robinhood Markets (HOOD). Each stock holds a Zacks Rank of either #1 (Strong Buy), 2 (Buy), or 3 (Hold). These companies are expected to see strong earnings growth and favorable performance in the cryptocurrency market.

Read more at Nasdaq: Buy These 5 Crypto Stocks Before the Next Bitcoin Rally