Bitcoin prices could surge in the coming months following an extended slump over the past couple of months. And because North America is expected now to become the global bitcoin mining hub in the wake of China’s crackdown, many analysts expect Bitcoin to hit $100k by year’s end. Consequently, Wall Street analysts expect popular crypto stocks Coinbase Global (COIN) and Marathon Digital Holdings (MARA) to be among the biggest gainers from the potential crypto rally. Read on for details.Bitcoin is poised to make an extraordinary comeback from its retreat over the past couple of months. Owing to China’s intensified crackdown on cryptocurrencies, bitcoin mining is expected to shift to North America given favorable regulatory measures in that region. Furthermore, despite the U.K.’s regulatory ban on Binance cryptocurrency exchange, Bitcoin prices have risen 3.1% since.
A recent Bloomberg report suggests that Bitcoin prices might hit the $100,000 mark this year given the renewed interest in cryptocurrencies, newly launched crypto ETFs in Canada and Europe, and increasing institutional investment in the asset.
In light of these developments, Wall Street analysts expect crypto stocks Coinbase Global, Inc. (COIN) and Marathon Digital Holdings, Inc. (MARA) to deliver solid gains in the coming months.