3 Crypto-Oriented Stocks That Have Strong Potential for 2024

加密货币最近一直在遭受损失，比特币 (CRYPTO: BTC) 6 月 24 日短暂跌破 60,000 美元。尽管比特币弥补了一些损失，并略高于 61,000 美元，但它已从 3 月 14 日Bitcoin (CRYPTO:BTC) price has been in trouble lately, briefly falling below 60,000

dollars on the morning of June 24th. attracts. Bitcoin trimmed some

losses and traded just above $61,000 but is down sharply from the all-time high of $73,750.07 achieved on March 14. Cryptocurrency, upcoming Mt. Gox has fallen 6 percent in the past seven days, driven by major selling pressure from the ongoing ETF exodus tied to bankruptcy bailouts. But several other factors have put pressure on Bitcoin, which has seen solid performance in 2023 and the first quarter. Bitcoin's rally accelerated in January after the Securities and Exchange Commission (SEC) approved 11 spot Bitcoin exchange-traded funds (ETFs) in a game-changing move aimed at providing retail and institutional investors with a regulated and accessible way to invest in the cryptocurrency. The rally was paused in April by the Bitcoin halving event, which occurs every four years and aims to limit Bitcoin's total supply to 21 million coins by reducing the block reward by 50%. This decrease in the supply of new Bitcoins often causes a price increase, increasing demand for cryptocurrencies. Now that the Bitcoin halving event is over, there is widespread speculation that reduced supply will drive prices higher due to scarcity in the near term. Additionally, Federal Reserve Chairman Jerome Powell stated in his statement after the FOMC meeting on June 12 that the Fed expects only one interest rate cut this year. Some of Bitcoin's recent decline can be attributedto Powell's comments. Needless to say, Bitcoin's decline is temporary. The cryptocurrency is up 43.5 percent this year so far after gaining 157 percent in 2023. Moreover, a single 25 basis point rate cut in 2024 would benefit the cryptocurrency market and the broader economy, as many market participants do not expect a rate cut this year. Low interest rates are advantageous for growth assets like tech stocks, consumer privilege stocks and cryptocurrencies. At this point, investors should have a long-term perspective. Our Picks We've narrowed down our search to three crypto-focused stocks with strong potential for 2024. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or #2 (Buy). NVIDIA Corporation (NASDAQ:NVDA) is a global leader in visual computing technologies and the inventor of the graphics processing unit (GPU). NVIDIA's focus has shifted from PC graphics to AI-based solutions over the years, and now supports high-performance computing, gaming and virtual reality platforms as well. NVIDIA's expected earnings growth rate for this year is 106.2%. The Zacks Consensus Estimate for current-year earnings has increased 12.1% over the past 60 days. NVIDIA currently carries a Zacks Rank #1. Coinbase Global, Inc. (NASDAQ:COIN) provides financial infrastructure and technology to power the global cryptocurrency economy. COIN provides a primary 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 securely accept cryptocurrencies as payment. Coinbase Global's expected earnings growth rate for this year is over 100%. The Zacks Consensus Estimate for current-year earnings has increased 219.1% over the past 60 days. Coinbase currently carries a Zacks Rank #1. Interactive Brokers Group, Inc. (NASDAQ:IBKR), ku

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