We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bitcoin Set to Cross $100,000 on Post-Election Rally: 4 Stocks to Buy
Read MoreHide Full Article
The post-election rally saw Bitcoin (BTC) hitting an all-time high of $99,027 on Nov. 22. Since then, the cryptocurrency has marginally pulled back but is still trading above $95,500 and on track to hit a new milestone.
The Bitcoin rally that started in 2023 came to an abrupt halt in the second quarter. However, it rebounded in September after the Federal Reserve announced the first interest rate cut. The recent rally is fueled by optimism surrounding Donald Trump’s win in the U.S. presidential election. This has seen Bitcoin surpass expectations and race toward the $100,000 milestone.
Given the positive sentiment, investing in Bitcoin-centric stocks like Coinbase Global, Inc. (COIN - Free Report) , BlackRock, Inc. (BLK - Free Report) , Accenture plc (ACN - Free Report) , and NVIDIA Corporation (NVDA - Free Report) , which have strong growth potential for the near term, would be a prudent choice. Each of these stocks has seen positive earnings estimate revision in the past 60 days and carries a Zacks Rank #1 (Strong Buy) and 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bitcoin Rebounds After Slight Pull-Back
Bitcoin pulled back from its earlier high over the past few sessions as the post-election rally fizzled last week. The cryptocurrency hit an intraday low of $90,770 on Wednesday, as investors took time to reassess the regulatory relaxation anticipated from Trump when he takes office in January 2025.
However, some favorable developments in the regulatory landscape and upbeat market sentiment saw the cryptocurrency rebounding in the past 24 hours, indicating that the post-election rally is far from over. In the past 24 hours, Bitcoin has gained 2.6%.
Throughout his campaign, Trump promised to transform the United States into the "crypto capital of the planet," with plans to launch a strategic Bitcoin reserve and appoint regulators who back digital assets. Trump's supportive stance on cryptocurrency, along with reports suggesting his team is considering former CFTC Chair Chris Giancarlo for a "Crypto Czar" position, has boosted optimism in the market.
Also, the minutes of the Federal Reserve’s latest meeting revealed on Tuesday that the central bank plans to go for more rate cuts, although “gradually’, which will further help cryptocurrencies. The overall upbeat sentiment is fueling the rally, and experts now believe that Bitcoin price hitting $100,000 is just a matter of time.
4 Bitcoin-Focused Stocks With Upside
BlackRock
BlackRock is one of the world’s largest investment managers and is publicly owned. BLK was among the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.
BlackRock’s expected earnings growth rate for the current year is 14.3%. The Zacks Consensus Estimate for current-year earnings has improved 4.4% over the past 60 days. BLK currently sports a Zacks Rank #1.
Coinbase Global
Coinbase Global, Inc. offers financial infrastructure and technology to support the global cryptocurrency economy. It provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.
Coinbase Global’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 3.7% over the last 60 days. COIN currently carries a Zacks Rank #2.
Accenture plc
Accenture plc is a worldwide system integrator that offers consulting, technology and various other services. The company promotes Ethereum-based blockchain solutions to businesses, aiming to simplify payment processing.
Accenture’s expected earnings growth rate for the current year is 6.9%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the last 60 days. ACN currently carries a Zacks Rank #2.
NVIDIA Corporation
NVIDIA Corporation is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence, and the mining or production of cryptocurrencies.
NVIDIA’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 4.3% over the last 60 days. Currently, NVIDIA has a Zacks Rank #2.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bitcoin Set to Cross $100,000 on Post-Election Rally: 4 Stocks to Buy
The post-election rally saw Bitcoin (BTC) hitting an all-time high of $99,027 on Nov. 22. Since then, the cryptocurrency has marginally pulled back but is still trading above $95,500 and on track to hit a new milestone.
The Bitcoin rally that started in 2023 came to an abrupt halt in the second quarter. However, it rebounded in September after the Federal Reserve announced the first interest rate cut. The recent rally is fueled by optimism surrounding Donald Trump’s win in the U.S. presidential election. This has seen Bitcoin surpass expectations and race toward the $100,000 milestone.
Given the positive sentiment, investing in Bitcoin-centric stocks like Coinbase Global, Inc. (COIN - Free Report) , BlackRock, Inc. (BLK - Free Report) , Accenture plc (ACN - Free Report) , and NVIDIA Corporation (NVDA - Free Report) , which have strong growth potential for the near term, would be a prudent choice. Each of these stocks has seen positive earnings estimate revision in the past 60 days and carries a Zacks Rank #1 (Strong Buy) and 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bitcoin Rebounds After Slight Pull-Back
Bitcoin pulled back from its earlier high over the past few sessions as the post-election rally fizzled last week. The cryptocurrency hit an intraday low of $90,770 on Wednesday, as investors took time to reassess the regulatory relaxation anticipated from Trump when he takes office in January 2025.
However, some favorable developments in the regulatory landscape and upbeat market sentiment saw the cryptocurrency rebounding in the past 24 hours, indicating that the post-election rally is far from over. In the past 24 hours, Bitcoin has gained 2.6%.
Throughout his campaign, Trump promised to transform the United States into the "crypto capital of the planet," with plans to launch a strategic Bitcoin reserve and appoint regulators who back digital assets. Trump's supportive stance on cryptocurrency, along with reports suggesting his team is considering former CFTC Chair Chris Giancarlo for a "Crypto Czar" position, has boosted optimism in the market.
Also, the minutes of the Federal Reserve’s latest meeting revealed on Tuesday that the central bank plans to go for more rate cuts, although “gradually’, which will further help cryptocurrencies. The overall upbeat sentiment is fueling the rally, and experts now believe that Bitcoin price hitting $100,000 is just a matter of time.
4 Bitcoin-Focused Stocks With Upside
BlackRock
BlackRock is one of the world’s largest investment managers and is publicly owned. BLK was among the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.
BlackRock’s expected earnings growth rate for the current year is 14.3%. The Zacks Consensus Estimate for current-year earnings has improved 4.4% over the past 60 days. BLK currently sports a Zacks Rank #1.
Coinbase Global
Coinbase Global, Inc. offers financial infrastructure and technology to support the global cryptocurrency economy. It provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.
Coinbase Global’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 3.7% over the last 60 days. COIN currently carries a Zacks Rank #2.
Accenture plc
Accenture plc is a worldwide system integrator that offers consulting, technology and various other services. The company promotes Ethereum-based blockchain solutions to businesses, aiming to simplify payment processing.
Accenture’s expected earnings growth rate for the current year is 6.9%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the last 60 days. ACN currently carries a Zacks Rank #2.
NVIDIA Corporation
NVIDIA Corporation is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence, and the mining or production of cryptocurrencies.
NVIDIA’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 4.3% over the last 60 days. Currently, NVIDIA has a Zacks Rank #2.