Bittime - Crypto-related stocks in the United States saw gains on Monday along with a general market rally just days after Bitcoin halving with some stocks even posting double-digit gains.
What happens during the Bitcoin Halving? How will the price of BTC develop in the future? With click on this link, you will find the answer.
Five Bitcoin Mining Companies
The five largest Bitcoin mining companies in the US by market capitalization, namely Marathon Digital (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), Cipher Mining (CIFR), and Hut 8 (HUT), all experienced increases in April 22 trading and continued to strengthen in the after-hours trading session, according to data from Google Finance.
One of the biggest price increases was Stronghold Digital Mining (SDIG) with a jump of 35.3% to $3.64, and continued to rise 4% in the after-hours trading session to almost reach $3.80.
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Riot Ascension
Riot followed with a rise of more than 23% to $11.24 and rallied 3.2% in after-hours trading to $11.60.
Overall, crypto miners in the US saw price increases on the day extending their rally since Friday, April 19.
The Valkyrie Bitcoin Miners ETF (WGMI) which holds shares of miners and several chipmakers including Nvidia (NVDA) posted an 11% gain and rose 3% after hours to $16.69.
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Crypto Stock Price Rise
This rise in crypto stock prices occurred even though their Bitcoin mining rewards had halved to 3,125 BTC per block following the halving on Saturday, April 20 just after midnight UTC or April 19 at 8:09 pm New York time.
This coincided with a general rise in US markets as the Nasdaq Composite Index and S&P 500 rose 1.1% and 0.8% respectively on the day after a string of losses last week caused by a decline in tensions in the Middle East and a lackluster earnings report. entry from large technology companies.
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Chief Investment Officer CIBC Private Wealth
CIBC Private Wealth's chief investment officer, David Donabedian, told Barron's on April 22 that the market was weakening due to high inflation rates, rising bond yields and speculation about an expected interest rate cut from the Federal Reserve.
He added that nearly half of the country's largest companies will share their first-quarter earnings reports this week which could also add to market volatility.
Bitcoin Price
Bitcoin prices have risen 4.5% to $66,810 since the halving, according to Cointelegraph Markets Pro. Prior to the event, market commentators predicted mixed outcomes for cryptocurrency prices once the halving was carried out.
Meanwhile, crypto exchange Coinbase saw a 7% rise to $225.86 with a slight gain of 0.8% after hours, as did Bitcoin purchasing software company MicroStrategy (MSTR) which saw an extended 12.7% daily gain. 2.5% after hours to $1,357.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Too:
Investors Turn to Polkadot and Altcoins As Bitcoin Halving Fails to Stop $206 Million Outflow
Bitcoin Halving Impact: How Altcoins Fate
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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