Trade Radar: COIN Soars Over 50% in Less Than 3 Weeks: Are You Getting On Board?
Investment Opportunities in US Stocks Amid Cryptocurrency Market Surge: Insights from Loui, M+ Online Head of Research
Since our last mentioned on cryptocurrency COIN has soared more than 50% in less than 3 weeks!
We did expect the Bitcoin to maintain and rally above the USD30k level. Currently, Bitcoin is trading above USD31k, based on the momentum, it should hit USD33-34k.
You may refer to our earlier article on cryptocurrency and the reasoning behind the crypto craze. Trade Radar | Institutional Craze For Cryptocurrency? Here Are 1 Crypto Stock And 2 Key ETFs to Watch
Now, there are new developments in the cryptocurrency space.
First to race to the spot Bitcoin ETF. We expect with the Blackrock, Fidelity and Invesco that are racing for first spot Bitcoin ETF will provide upside potential towards the crpyto space.
Ripple saviour. A partial victory for Ripple (XRP) in its fight with the U.S. Securities and Exchange Commission (SEC) in a court ruling on Thursday as a federal judge ruled that the crypto (Ripple, XRP) is not a security when sold to retail investors on digital-asset exchanges. This has caused XRP rallying near to 100% (at one point at 93.6 cents) in a single day.
Benefited the crypto-related sectors. We noticed that it is not just crpytos that are rallying but COIN, MARA and MSTR managed to gain attention.
Coinbase (COIN) is a secure online platform for buying, selling, transferring, and storing cryptocurrency (crypto).
Marathon Digital Holdings, Inc. (MARA) is a digital asset technology company, which engages in mining cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.
MicroStrategy (MSTR) is an enterprise business intelligence (BI) application software vendor. Its flagship platform contains multiple features designed to help enterprises make data-driven decisions and optimize business processes.
Do you want to ride the crypto wave before the breakout in Bitcoin?
You may gain exposure in the cryptocurrency space via M+ Global App.
| US Stock | |
COIN |
Coinbase Global Inc |
MARA |
Marathon Digital Holdings, Inc. |
MSTR |
MicroStrategy |
US ETFs |
|
BITO |
US ProShares Bitcoin Strategy ETF |
BITI |
US ProShares Short Bitcoin Strategy ETF |
HK ETFs |
|
3066. HK |
CSOP Bitcoin Futures ETF |
| 3068. HK | CSOP Ether Futures ETF |
More about Loui:
Loui Low leads a team of analysts to perform equity and economic research and to provide investment advisory services to the organization's sales team, fund manager and retail fraternity. He has more than 10 years of experience in the stockbroking industry.
He graduated with a Bachelor of Science in Statistics from University of Malaya. He also holds an STA Diploma and is a member of the Society of Technical Analysts (MSTA) United Kingdom.
More about the Trade Radar:
Trade Radar is a weekly-updated section, featuring Loui's latest insights into market trends and hot topics. Traders may find some trading inspiration from Loui's views.
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