From Nasdaq: 2024-07-04 06:00:00

Bitcoin (BTC-USD) is currently in a consolidation zone between $60,000 and $70,000 after a recent rally. Analysts expect a fresh rally soon and suggest looking at top crypto stocks to buy, given the Fed’s plan to cut interest rates multiple times in the next 12-18 months.
Peter Brandt forecasts Bitcoin’s ongoing bull market will peak at $200,000, potentially offering significant returns for crypto stocks in the next year. Coinbase Global (COIN) is one such stock, trading sideways with a favorable forward P/E ratio of 31x.
Riot Platforms (RIOT), a Bitcoin mining stock, appears undervalued with strong fundamentals, including a zero-debt balance sheet and a cash buffer of $1.3 billion as of Q1 2024. The company is expanding its hash rate capacity and aims to reach 100EH/s by 2027, indicating substantial growth potential.
Block (SQ), a fintech stock, is poised for a breakout after consolidating for the past year. Despite misconceptions about its focus on Bitcoin, only 3% of Block’s resources are dedicated to crypto projects. The company’s Cash App has over 21 million active users involved in Bitcoin transactions, indicating future valuation growth.

Read more at Nasdaq: 3 Crypto Stocks to Buy for 100% Returns as Bitcoin Consolidates