From Nasdaq.: 2024-05-23 08:35:00

In 2021, Bitcoin’s price surged due to institutional adoption but faced challenges in 2022. In 2023, it skyrocketed by 157% and continued bullish in 2024, reaching $71,000 in May. Federal Reserve concerns dampened it slightly, but enthusiasts expect the bullish trend to continue above $69,000.
A surge in Bitcoin’s price was driven by regulatory approval of 10 spot Bitcoin ETFs in January, leading to $7 billion net inflow. This approval legitimized Bitcoin as an asset class, with expectations of a spot ether ETF driving further rally. Bipartisan support in the House of Representatives is boosting confidence in the sector.
Block, Coinbase, and NVIDIA are poised to benefit from Bitcoin’s rally. Block’s revenue growth from Cash App, Coinbase’s stellar earnings growth, and NVIDIA’s GPU designs for crypto mining all contribute to their ranks. Expert recommendations suggest the potential for further growth in these stocks.
One stock to watch for explosive growth is highlighted by Zacks experts, targeting millennials and Gen Z with nearly $1 billion in revenue last quarter. A recent pullback presents an ideal entry point to potentially double, surpassing previous high performers. Additional stock picks and analysis are available for those seeking to capitalize on market trends.

Read more at Nasdaq: 3 Crypto Stocks to Watch Closely for Bitcoin’s Bullish Run