Bitcoin's Fundamentals Remain Strong Despite Market Trends
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Source: NASDAQ.COM
- Market Performance Analysis: As of June 8, Bitcoin's price is down 49% from its all-time high last October, while the S&P 500 is near its record high, indicating selective punishment of risk assets by the market, despite Bitcoin's strong fundamentals.
- Future Price Prediction: Bitcoin is expected to rise 290% from its current price of $64,000 to $250,000 before the halving event in April 2028, based on historical trends of price increases following each halving, although the rate of appreciation may slow.
- Network Health Status: The Bitcoin network's hash rate remains near all-time highs, with trillions of dollars in transaction volume annually, demonstrating the stability of its infrastructure and the vibrancy of its community, despite the bearish market sentiment.
- Financial Services Development: Morgan Stanley's launch of a spot Bitcoin ETF in April, currently managing $235 million in assets, indicates growing interest from major financial institutions, while the U.S. government's regulatory stance is also becoming increasingly favorable.
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Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise
33 Analyst Rating
26 Buy
7 Hold
0 Sell
Strong Buy
Current: 356.380
Low
305.00
Averages
374.25
High
400.00
Current: 356.380
Low
305.00
Averages
374.25
High
400.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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