Bitcoin Plummets Below $65K: Market Braces for Upcoming Halving Impact
March 21, 2024Bitcoin's price plummeted below $65,000, marking a significant 24-hour drop.
The overall cryptocurrency market experienced a downturn, with Bitcoin's market dominance at 51.61% of the total $2.5 trillion market value.
Liquidation of long Bitcoin positions suggests a surge in bearish sentiment among investors.
Crypto mining stocks are facing volatility ahead of the Bitcoin halving event, which will reduce rewards for miners.
Despite the current market correction, some banks and firms predict Bitcoin could reach $150,000 by year-end.
Analysts are bullish on certain Bitcoin mining stocks such as Riot Platforms, Marathon Digital, and CleanSpark.
MicroStrategy offers indirect Bitcoin market exposure through its stock, having adopted Bitcoin as a primary investment strategy.
InvestingPro's ProPicks stock selection tool promotes a 10% discount with the code FRPROPICKS.
Summary based on 69 sources
Get a daily email with more Tech stories
Sources
Yahoo Finance • Mar 21, 2024
5 Crypto-Centric Stocks to Buy as Bitcoin Regains MomentumBitcoin Magazine - Bitcoin News, Articles and Expert Insights • Mar 21, 2024
Bitcoin's Surge to All Time High: What It Means for Your Investment FutureAscend Agency • Mar 21, 2024
Navigating Crypto Risks with Institutional Cryptocurrency PlatformsCNBC • Mar 21, 2024
Bitcoin rebounds above $67,000 as it shakes off $200 billion slump