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.
3 Crypto-Centric Stocks to Buy on the Dip Before Its Next Rally
Read MoreHide Full Article
Key Takeaways
Bitcoin slipped 3.7% in October after hitting an all-time high early in the month.
NVDA, IBKR and HOOD show rising earnings estimates, signaling crypto-driven upside.
Historical November gains and potential rate cuts could boost Bitcoin's next rally.
Cryptocurrencies have had an impressive run this year after a stellar 2024, but the rally halted abruptly last month, with Bitcoin (BTC) suffering its worst October in years.
Bitcoin’s sudden decline came after the cryptocurrency hit an all-time high in early October. Massive liquidations sweeping through leveraged markets and several other geopolitical factors have been weighing on Bitcoin and the broader crypto market. However, Bitcoin still has a lot of room to advance and November, which has traditionally been good for Bitcoin, could reverse the tide.
Given this situation, it would be ideal to take the buy-the-dip approach and invest in crypto-focused stocks. We have selected three stocks: NVIDIA Corporation (NVDA - Free Report) , Interactive Brokers Group, Inc. (IBKR - Free Report) and Robinhood Markets, Inc. (HOOD - Free Report) . Each of these stocks has strong growth potential for 2025 and has seen positive earnings estimate revisions in the past 60 days.
Bitcoin Declines But November Holds Promise
Bitcoin suffered its worst October since 2018, with the cryptocurrency declining nearly 3.7% for the month. Bitcoin closed just above $110,000 in October. It has since declined further and was hovering around $107,600 on Monday morning.
This is sharply lower than its all-time high of $126,300 achieved on Oct. 6. However, Bitcoin is still sharply higher than its yearly low of $66,000. The decline in October came primarily because of a whopping $19 billion in liquidations that hit leveraged markets in October, fueling wild swings leading to massive selloffs across several exchanges.
Also, the ongoing government shutdown has now started raising concerns over the economy being impacted further. President Donald Trump’s renewed tariff war with China also dented investors’ sentiment further in October. Although the U.S.-China trade tensions have eased over the past week, the situation is yet to normalize.
Despite a spate of obstacles, investors are hopeful about November, which has historically been the best month for Bitcoin. The cryptocurrency has gained 42.5% on average in November since 2013. Also, Bitcoin is still up 13.6% year to date. Moreover, if the Federal Reserve cuts interest rates by another 25 basis points this year, Bitcoin may get a further boost.
3 Crypto-Centric Stocks With Upside
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 graphics processing units (GPUs), the value of 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 49.2%. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the past 60 days. Currently, NVIDIA has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Interactive Brokers Group, Inc.
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.
Interactive Brokers Group has an expected earnings growth rate of 14.8% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 6.7% over the last 60 days. IBKR currently has a Zacks Rank #1.
Robinhood Markets
Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets’ expected earnings growth rate for the current year is 64.2%.The Zacks Consensus Estimate for current-year earnings has improved 15.5% over the past 60 days. HOOD currently has a Zacks Rank #3.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
3 Crypto-Centric Stocks to Buy on the Dip Before Its Next Rally
Key Takeaways
Cryptocurrencies have had an impressive run this year after a stellar 2024, but the rally halted abruptly last month, with Bitcoin (BTC) suffering its worst October in years.
Bitcoin’s sudden decline came after the cryptocurrency hit an all-time high in early October. Massive liquidations sweeping through leveraged markets and several other geopolitical factors have been weighing on Bitcoin and the broader crypto market. However, Bitcoin still has a lot of room to advance and November, which has traditionally been good for Bitcoin, could reverse the tide.
Given this situation, it would be ideal to take the buy-the-dip approach and invest in crypto-focused stocks. We have selected three stocks: NVIDIA Corporation (NVDA - Free Report) , Interactive Brokers Group, Inc. (IBKR - Free Report) and Robinhood Markets, Inc. (HOOD - Free Report) . Each of these stocks has strong growth potential for 2025 and has seen positive earnings estimate revisions in the past 60 days.
Bitcoin Declines But November Holds Promise
Bitcoin suffered its worst October since 2018, with the cryptocurrency declining nearly 3.7% for the month. Bitcoin closed just above $110,000 in October. It has since declined further and was hovering around $107,600 on Monday morning.
This is sharply lower than its all-time high of $126,300 achieved on Oct. 6. However, Bitcoin is still sharply higher than its yearly low of $66,000. The decline in October came primarily because of a whopping $19 billion in liquidations that hit leveraged markets in October, fueling wild swings leading to massive selloffs across several exchanges.
Also, the ongoing government shutdown has now started raising concerns over the economy being impacted further. President Donald Trump’s renewed tariff war with China also dented investors’ sentiment further in October. Although the U.S.-China trade tensions have eased over the past week, the situation is yet to normalize.
Despite a spate of obstacles, investors are hopeful about November, which has historically been the best month for Bitcoin. The cryptocurrency has gained 42.5% on average in November since 2013. Also, Bitcoin is still up 13.6% year to date. Moreover, if the Federal Reserve cuts interest rates by another 25 basis points this year, Bitcoin may get a further boost.
3 Crypto-Centric Stocks With Upside
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 graphics processing units (GPUs), the value of 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 49.2%. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the past 60 days. Currently, NVIDIA has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Interactive Brokers Group, Inc.
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.
Interactive Brokers Group has an expected earnings growth rate of 14.8% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 6.7% over the last 60 days. IBKR currently has a Zacks Rank #1.
Robinhood Markets
Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets’ expected earnings growth rate for the current year is 64.2%.The Zacks Consensus Estimate for current-year earnings has improved 15.5% over the past 60 days. HOOD currently has a Zacks Rank #3.