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GBTC

Bitcoin (BTC) is expected to drop to $38,000 according to 10x Research, following a 5% decline to $42,600 after the launch of spot ETFs in the U.S. The report cites a bearish RSI divergence and potential investor shift from the Grayscale Bitcoin Trust (GBTC) to lower-fee ETFs as reasons for the predicted decline.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 8:11 am

BTCUSD

Former Goldman Sachs executive Raoul Pal predicts a crypto bull run, citing the introduction of spot market Bitcoin ETFs and a cleared out leverage as key factors. He anticipates volatility with potential 30%-35% pullbacks due to high demand and front-running of the ETF launch. Pal suggests the real run to all-time highs will start after a month or two of market chop.

Portfolio Pulse from Bibhu Pattnaik

January 14, 2024 | 6:06 pm

BTCUSD

Crypto analyst il Capo Of Crypto predicts a short-term rise in Bitcoin's value to around $50,000, followed by a sideways movement and then a significant decline to the $30,000 level. This forecast is based on the Elliott Wave theory and recent market trends. Bitcoin was trading at $42,828.90, experiencing a 3% decrease over the past week. The analyst also noted a potential recovery above $33,000 after finding support between $30,000 and $31,000.

Portfolio Pulse from Bibhu Pattnaik

January 14, 2024 | 2:21 pm

ARKB

COIN

Ark Invest CEO Cathie Wood predicts Bitcoin could reach $1.5 million by 2030. Ark Invest's ARK 21 Shares Bitcoin ETF (ARKB) was approved by the SEC, potentially boosting Bitcoin's value. Coinbase Global (COIN), a major holding in Ark ETFs, could benefit from increased Bitcoin demand. A $1,000 investment in Bitcoin could yield returns from 494.7% to 3,304.0% by 2030 based on Ark's price targets.

Portfolio Pulse from Chris Katje

January 13, 2024 | 3:27 pm

BLK

GBTC

CoinShare's Meltem Demirors predicts Bitcoin could reach $100,000 by the end of 2024, anticipating $100 billion in inflows following the approval of a spot Bitcoin ETF. Demirors highlighted the ease of investing in cryptocurrencies through ETFs and the potential for significant investment from retirement accounts. Goldman Sachs also sees benefits in Bitcoin ETFs, including investor protection and better liquidity. The first day of trading after ETF approval saw $4.5 billion in volume, with contributions from Grayscale Bitcoin Trust and BlackRock.

Portfolio Pulse from Rounak Jain

January 13, 2024 | 7:58 am

Sharmin Mossavar-Rahmani, CIO of Goldman Sachs' private wealth management group, expressed skepticism about Bitcoin ETFs, stating that Bitcoin is not a legitimate investment but rather 'total speculation'. Despite a false announcement of a Bitcoin ETF approval, which led to market volatility, Goldman Sachs has not applied for a Bitcoin ETF and advises clients against investing in cryptocurrencies. Bitcoin's price experienced a pullback, trading under $43,000 after previously crossing $49,000.

Portfolio Pulse from Rounak Jain

January 13, 2024 | 5:35 am

AAPL

BAC

GBTC

GOOGL

IBIT

JPM

MSFT

TSLA

WFC

The SEC approved spot Bitcoin ETFs, with significant inflows on their debut. Inflation rose to 3.4%, potentially affecting Fed policies. JPMorgan, Bank of America, Wells Fargo, and Citigroup reported mixed financial results. A study predicts a $1-trillion boost from generative AI, while Google's layoffs cause concern. Microsoft briefly overtook Apple as the most valuable company, and Tesla cut prices in China to boost competitiveness.

Portfolio Pulse from Piero Cingari

January 12, 2024 | 9:36 pm

VERX

Analysts have mixed views on Vertex (NASDAQ:VERX), with 6 recent ratings ranging from bullish to indifferent. The average 12-month price target is $30.33, up 19.74% from the previous $25.33. Analysts from Citigroup, BMO Capital, Goldman Sachs, Morgan Stanley, Raymond James, and Needham have updated their ratings and price targets, reflecting their latest views on the company's performance. Vertex's financials show a positive revenue trend with a growth rate of 14.88%, a net margin of -2.34%, an ROE of -1.52%, an ROA of -0.47%, and a low debt-to-equity ratio of 0.31.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 9:01 pm

Edwards Lifesciences (NYSE:EW) has been rated by 14 analysts in the last three months, with a diverse range of opinions. The average 12-month price target is now $76.71, down from the previous $85.58. Recent analyst actions include both upgrades and downgrades, with price targets ranging from $57.00 to $85.00. Edwards Lifesciences, known for its medical devices for structural heart disease, shows strong financial performance with a high net margin and ROE, but its revenue growth lags behind the Health Care sector average.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 9:00 pm

MRVL

Marvell Tech (NASDAQ:MRVL) has been analyzed by 13 analysts, showing a range of opinions. The average 12-month price target is $72.69, up from the previous $70.62. Analysts from firms like Citigroup, Barclays, and UBS have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Marvell Tech, a fabless chip designer, faces challenges with a -7.72% revenue decline, a net margin of -11.58%, and an ROE of -1.07%. Despite this, its debt-to-equity ratio of 0.29 suggests a balanced approach to debt management.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 9:00 pm