“Start 2024 Strong With 3 Hot Stock Ideas – Practically Free”
Ready for your shot at the next potential 32%, 39% or 45% gains in today’s market? You’re about to miss Stock Expert Gianni Di Poce’s 3 latest stock ideas… Ones that could shift your entire wealth-building journey. If you’re ready to start 2024 strong with 12 hot stock ideas every single month. ACT FAST.
Major cryptocurrencies traded in the green on late Friday evening, propelled by the spot Bitcoin ETF inflows, which recorded its third-best inflow day following the approval.
| Cryptocurrency | Gains +/- | Price (Recorded 8:45 a.m. EST) |
| Bitcoin (CRYPTO: BTC) | -0.5% | $47,270 |
| Ethereum (CRYPTO: ETH) | -1.0% | $2,492 |
| Avalanche (CRYPTO: AVAX) | +3.3% | $38.53 |
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!
What Happened: Bitcoin surged from $45,349 to briefly cross the $48,000 mark to gain 5% gain in a single day, fueled by spot Bitcoin ETF inflows. Two of the ETFs approved last month rank among the Top 10 Global ETFs by asset flows.
In other developments, the Solana blockchain network experienced a five-hour outage, which did not hinder its mid-week rally. Bullish sentiments persist in the analyst community, with Dogecoin (CRYPTO: DOGE) and Cardano (CRYPTO: ADA) being touted as future outperformers. In the Avalanche community, approximately 9.5 million AVAX tokens, valued at $322 million, are set to be unlocked on Feb. 22, 2024.
Among cryptocurrency-related companies, MicroStrategy’s Bitcoin holdings have surged by 50% to $9 billion. During the latest earnings call, CEO Michael Saylor referred to his company as a Bitcoin development firm and expressed commitment to expanding the Bitcoin network. Riding on the back of the Bitcoin rally, Coinbase Global (NASDAQ:COIN) saw a 7.2% increase in mid-day trading. The company is slated to report its quarterly earnings on Feb. 15.
Data from analytics firm Santiment shows that 90.5% of Bitcoin held are currently in profit, compared to Ethereum’s 84.7% and XRP’s 79.9%.
Top Gainers (24 Hours)
| Cryptocurrency | Gains +/- | Price (Recorded 9:45 a.m. EST) |
| Bonk (CRYPTO: BONK) | +8.2% | $0.0000129 |
| Pendle (CRYPTO: PENDLE) | +11.59% | $3.21 |
| Immutable (CRYPTO: IMX) | +2.71% | $14.20 |
The global cryptocurrency market cap stands at $1.78 trillion, reflecting a 1.25% increase over the past 24 hours. The upcoming halving event spurred record miner selling, further increasing Bitcoin prices.
Also Read: Bitcoin Halving Prompts Record Miner Selling: Bitfinex Report
Better Than the Super Bowl! Win With Options
America waited all season to place their Super Bowl bets. Now, it’s time to bet on yourself! Thousands leverage options to build wealth. Enjoy this free Options 101: Guide.. Grab your copy here now.
In the broader market, the Nasdaq Composite surged by 1.25% to close at 15,990.66, while the Dow Jones Industrial Average dipped slightly by 0.14%, ending the day at 38,671.69.
The rally in tech stocks, driven by optimism surrounding Artificial Intelligence, contributed to gains for companies like Enhphase Energy and New York Community Bancorp. No major economic data releases impacted industry sentiment.
Analyst Notes: Following the Bitcoin rally to $48,000, crypto investor Matthew Hyland highlighted a technical chart movement:
#BTC going for it’s highest Daily candle close since 2022: pic.twitter.com/OyyuOAH0qt
— Matthew Hyland (@MatthewHyland_) February 9, 2024
What’s Next: Although Bitcoin has retreated from its $48,000 level at the time of writing, bullish analysts anticipate a rally to $50,000 in the coming weeks leading up to the Bitcoin halving event in April 2024, possibly catalyzing further gains.
Entrepreneur and Bitcoin investor Lark Davis thinks the bull run “is here” and said that buying between now and the fourth quarter of 2024 will be “the easiest money to ever make.”
Another analyst, Michael van de Poppe, stated that while the $33 trillion in U.S. debt is a concern, one should buy Bitcoin and buy gold because the assets are a “hedge against bankruptcy, not inflation.”
Read Next: Bitcoin Surpasses $47K, Up 16% Since Jim Cramer Said ‘Unlikely To Find Its Footing’
Photo: Shutterstock
“Start 2024 Strong With 3 Hot Stock Ideas – Practically Free”
Ready for your shot at the next potential 32%, 39% or 45% gains in today’s market? You’re about to miss Stock Expert Gianni Di Poce’s 3 latest stock ideas… Ones that could shift your entire wealth-building journey. If you’re ready to start 2024 strong with 12 hot stock ideas every single month. ACT FAST.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This news is republished from another source. You can check the original article here