Why Bitcoin Cash and Shares of CleanSpark and Hut 8 Mining Are Rising Today
Cryptocurrencies and crypto-related stocks moved higher on Wednesday as more traditional financial companies are jumping into the space. The price of the world's largest cryptocurrency, Bitcoin, had blasted over $30,600 as of this writing.
Since late afternoon yesterday, the price of Bitcoin Cash (or BCH, a cryptocurrency created in August 2017 in a hard-fork blockchain split from Bitcoin) was more than 21% higher as of 12:35 p.m. ET today. Meanwhile, shares of the Bitcoin-mining companies CleanSpark (NASDAQ: CLSK) and Hut 8 Mining (NASDAQ: HUT) were up more than 13% and roughly 10.5%, respectively, on the day.
In recent weeks, the Securities and Exchange Commission (SEC) has come down hard on the crypto industry, first suing Binance, the world's largest crypto exchange, and then Coinbase Global (NASDAQ: COIN). This comes after two crypto banks have gone down since the latter part of 2022.
Source Fool.com
Coinbase Global Inc. Stock
Currently there is a rather positive sentiment for Coinbase Global Inc. with 31 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 161 € is below the current price of 220.25 € for Coinbase Global Inc., so the potential is actually -26.9%.
