Cryptocurrency Market Rebounds, Stocks Surge
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Benzinga
- Cryptocurrency Rebound: Bitcoin surged to $88,743 on Monday, with a 10% increase in trading volume over 24 hours, indicating a rise in investor risk appetite and an improvement in market sentiment from 'Extreme Fear' to 'Fear'.
- Strong Ethereum Performance: Ethereum approached $3,000, gaining 1.80% in 24 hours and accounting for nearly 12% of the total market share, reflecting its significance in the crypto market and a recovery in investor confidence.
- Stock Market Surge: The Dow Jones Industrial Average rose by 313.69 points to close at 49,412.40, while the S&P 500 increased by 0.50%, demonstrating enhanced overall economic confidence despite tariff threats looming over the market.
- Precious Metals Pullback: Silver plummeted 8% to $105 per ounce, and gold fell 1.33% to $5,016.20, indicating a shift in investor preference towards riskier assets, which pressured the precious metals market.
Analyst Views on BMNR
Wall Street analysts forecast BMNR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BMNR is 43.00 USD with a low forecast of 39.00 USD and a high forecast of 47.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 27.800
Low
39.00
Averages
43.00
High
47.00
Current: 27.800
Low
39.00
Averages
43.00
High
47.00
About BMNR
Bitmine Immersion Technologies Inc. is a technology company focused on Bitcoin mining using immersion technology, an advanced cooling technique where computers are submerged in specialized oil circulated to keep units operating at optimal ambient temperature. The Company operates in the cryptocurrency mining industry. Its business includes industrial scale digital asset mining, equipment sales and hosting operations. It is engaged in self-mining bitcoin for its own account, as well as hosting third party equipment used in mining of digital asset coins and tokens, specifically bitcoin. It conducts digital asset mining operations using specialized computers equipped with application-specific integrated circuit chips. Its data centers provide power, racks, thermodynamic management (heat dissipation and airflow management), redundant connectivity, 24/7 security, as well as software which provide infrastructure management and custom firmware that improves performance and energy efficiency.
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.
