BTC price surges after Fed hints at rate cuts, benefiting NVDA, COIN, SQ

From NASDAQ

August 26, 2024 2:45:00 pm:

BTC Price Surges

Bitcoin’s price surged as Federal Reserve Chair Powell hinted at upcoming interest rate cuts. This news is bullish for cryptocurrencies like BTC and stocks such as NVDA, COIN, and SQ.

BTC’s History

Despite highs and lows, BTC has shown remarkable growth since 2009, reaching a peak above $70,000 in 2024. Recent support level struggles have eased with a 9.2% price jump in the last week.

BTC’s Momentum

Fed hints at rate cuts due to easing inflation, driving BTC price up. Market anticipates multiple rate cuts this year, boosting liquidity and riskier asset investments. German government halts BTC liquidations, while major holders increase their BTC holdings.

Stocks Riding the BTC Wave

NVIDIA, COIN, and SQ stand to benefit from BTC’s upward trajectory. NVIDIA enters crypto mining space, while COIN and Block offer crypto trading platforms. These stocks have shown impressive growth over the past year.

Infrastructure Stocks Boom

The U.S. plans a massive infrastructure overhaul, creating investment opportunities. Zacks offers a Special Report on 5 companies set to benefit from this trillion-dollar spending spree.

Read more at Nasdaq: BTC Rallies as Fed Signals Rate Cuts: NVDA, COIN, SQ to Gain