Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Crypto Stocks Surge as Bitcoin Hits 19-Month High
PhotoNews PakistanPhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Bitcoin price drop 2025
PhotoNews Pakistan > Tech > Crypto Stocks Surge as Bitcoin Hits 19-Month High
Tech

Crypto Stocks Surge as Bitcoin Hits 19-Month High

Web Desk
By Web Desk Published December 2, 2023 2 Min Read
Share
Photo: Crypto News
SHARE

Shares of crypto mining companies and bitcoin-tracking firms experienced a rise on Friday, buoyed by the world’s largest cryptocurrency, Bitcoin, reaching a near 19-month high.

The surge, driven by an improved risk appetite, saw Bitcoin climbing 1.6% to $38,337. The upward trend has been ongoing since October, fueled by optimism around the potential approval of a spot exchange-traded fund (ETF), which is expected to attract more capital investments into the digital asset sector.

The share prices of bitcoin miners like Riot Platforms, Marathon Digital, and TeraWulf saw increases ranging from 1.7% to 4%, benefiting from the cryptocurrency’s rise.

J.P. Morgan responded to this rally by raising its price targets on various crypto miners, including Cipher Mining, CleanSpark, Iris Energy, Marathon Digital, and Riot Platforms. These companies are also ramping up production in anticipation of Bitcoin’s “halving” event next year, which will reduce the rewards for producing tokens by half.

Remember the #Bitcoin Stock- To – Flow model ? Well it’s now saying that 50k USD per 1 $BTC is fair value

When you see $QQQ and the broader US #StockMarket being a small push away from making new All Time Highs it’s not to difficult to see this price by next summer. pic.twitter.com/vlKf70m5Po

— King Wabi (Mr Big Buisness) (@KingWabii) December 2, 2023

Coinbase’s Performance and ETF Approval Bets

Coinbase, a major U.S. crypto exchange, saw its shares rise by about 2.5%, following a 62% increase in November. This outperformance came despite the exchange reporting a decline in trading volume earlier in the month.

CFRA Research analyst Michael Elliott noted that higher crypto prices will likely boost transaction volumes and revenues for Coinbase as 2024 approaches. However, Elliott warned of legal challenges and new regulations that may induce volatility in Coinbase’s stock. The speculation around ETF approval has helped mitigate concerns arising from Changpeng Zhao, the founder of the world’s largest crypto exchange, stepping down and pleading guilty to U.S. anti-money laundering law violations.

Other beneficiaries of the crypto market rally included U.S. software developer and bitcoin investor Microstrategy, which saw an increase of nearly 3.5%, and the ProShares Bitcoin Strategy ETF, which added 2.1%.

TAGGED:Crypto CurrencyCrypto TodayCryptocurrency NewsFeatured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Sam Rivers death

New Details Emerge in Limp Bizkit Bassist Sam Rivers’ Tragic Death

Australia vs India 2nd T20I

Australia Beat India by 4 Wickets in 2nd T20I 

Sydney Sweeney' Dress

Sydney Sweeney’s Sheer Gown Draws Criticism from Megyn Kelly

Post Archives

More Popular from Photonews

Pakistan stock market rises october 31. 2025
Business

PSX Soars Over 2% on Ceasefire Optimism and Earnings Season Speculation

2 Min Read
Trump Xi trade deal 2025
BusinessTop News

Trump Cuts China’s Tariffs Rate to 47% After Xi Meeting

3 Min Read
Balenciaga destroyed jacket
Offbeat

Balenciaga’s $950 ‘Destroyed’ Jacket Sells Out in 24 Hours

2 Min Read
Business

Coinbase CEO Dismisses Myth That Crypto Is Too Expensive

A common myth is that it discourages new participants from entering the cryptocurrency market. Many people…

October 27, 2025
Entertainment

Sydney Sweeney Throws First Pitch, Appears on FOX Broadcast at World Series

Emmy-nominated actress Sydney Sweeney became a headline act at Game 4 of the World Series on…

October 30, 2025
Top NewsWorld

US Prepares New Russia Sanctions as Ukraine Peace Efforts Stall

The United States is preparing to increase pressure on Russia. The Trump administration has developed a…

October 26, 2025
Business

Angola Bids for Majority Stake in Diamond Giant De Beers

A major corporate battle is taking shape in Southern Africa. Angola is bidding for a majority…

October 25, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?