Are Crypto Stocks Still Worth Watching as Bitcoin Consolidates?
Not too long ago, crypto-related stocks generated buzz as Bitcoin (CRYPTO: BTC) surged to new heights. These stocks gained significant popularity due to the excitement surrounding digital currencies and media attention. However, in recent times, crypto stocks have become less of a focus, even as Bitcoin hovers near crucial resistance levels, signaling a potential breakout.
So, is the value and hype no longer present in these once-popular crypto stocks? Or should investors keep them on their radar, even though the excitement seems to have diminished?
Let’s examine two prominent crypto-related stocks and their performance compared to Bitcoin’s recent moves.
Bitcoin’s Recent Performance: Stable Consolidation Near Key Levels
While Bitcoin has traded mostly sideways for the past six months, showing an 8.7% decline during this period, it remains up 143% over the past year and 44% YTD. Although its recent consolidation near its all-time highs near $73,000 has subdued media interest, this major breakout level could spark a significant upward move if breached.
One potential reason for less interest in crypto-related stocks could be the rise of Bitcoin …
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