Bitcoin Now Below $67,200 – and Plummeting
Live Blog Update #2 Published
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Bitcoin now trades at less than $67,200 and is getting destroyed.
In fact, it last traded at $67,129 – which is great news for traders that are short related stocks, such as Robinhood (HOOD) and Strategy (MSTR), which just saw its price target by analysts at Canaccord. Both have become falling knives and could drop even more.
Until Bitcoin shows some signs of bottoming out – which may not happen any time soon – both of those stocks are solid short opportunities. More bearish forecasts see Bitcoin falling below $60,000, with extreme downside scenarios pointing to levels near $30,000.
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Analysts at Goldman Sachs just reiterated a buy rating on Nvidia ahead of earnings this month. According to the firm, “We expect investors to focus on (1) directional commentary on visibility into 2027; (2) non-traditional customer demand trends; (3) competitive dynamics; (3) China business trends,” as quoted by CNBC.
Analysts at Bank of America just reiterated a buy rating on Alphabet following earnings.
According to the firm, “We see Alphabet as well-positioned long term with leading AI technology to apply to search, YouTube, and Cloud businesses. Alphabet should also benefit from increasing mobile usage, video usage, Google Play activity, and connected device activity.”
And, analysts at Jefferies just reiterated that Broadcom is a top pick that should be bought on any weakness.
As quoted by CNBC, analysts noted a “Strong history of M&A, which we believe should see strong synergies and provide an even larger value proposition to customers. Expect a continued M&A path of software deals every few years.”
Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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