Bitcoin has surged to an all-time high of $99,027 on November 22, driven by optimism surrounding Donald Trump’s presidential win and a supportive stance on cryptocurrency. The cryptocurrency has rebounded after a slight pullback, gaining 2.6% in the past 24 hours.
Experts believe the post-election rally is far from over, fueled by upbeat sentiment. Investors can consider buying Bitcoin-centric stocks like Coinbase Global, BlackRock, Accenture, and NVIDIA, which have strong growth potential and seen positive earnings estimate revisions in the past 60 days.
Coinbase’s expected earnings growth rate for the current year is over 100%, while BlackRock’s is 14.3%. Accenture’s growth rate is 6.9% and NVIDIA’s is more than 100%. These stocks carry a Zacks Rank #1 (Strong Buy) or #2 (Buy), indicating strong buy recommendations.
The recent rally is also driven by the Federal Reserve’s plan to cut interest rates gradually, which will further support cryptocurrencies. Trump’s supportive stance on cryptocurrency, including plans for a strategic Bitcoin reserve and appointing regulators who back digital assets, has boosted optimism in the market.
As the post-election rally continues, investors can capitalize on these opportunities with Bitcoin-centric stocks that have strong growth potential.
Source: https://finance.yahoo.com/news/bitcoin-set-cross-100-000-140000506.html