United States jobless claims data had little impact on markets, with the main event in the form of Consumer Price Index (CPI) data due June 10. "$BTC is currently in the Bottom position of 2020. 
JPMorgan Chase (RIOT), 
Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. (NVDA), This copy is for your personal, non-commercial use only.
(SQ), (TSLA), General sentiment, while low according to indicators, was one of frustration for seasoned market pundits. Broadridge Financial Solutions ETF (ticker: BLCN). Bitcoin is up 86%. "Going into tomorrow; I think we'll see the same from the U.S. which can benefit relief," part of a further Twitter post read. It apparently has settled in and intends to live there forever," analyst and podcast host Scott Melker, known as the "Wolf of All Streets," reacted to the current trend. One reason for that dynamic is that traditional investors have limited options for buying Bitcoin in their portfolios, and some appear to be trying to gain exposure through the handful of stocks that have embraced the technology. Those who believe in Bitcoin should probably just buy it outright. (OSTK), "Bitcoin recently purchased a beautiful yet affordable home at a low-interest rate for 30 years in a quiet town called 30K. Is asymmetric information driving cryptos wild price swings? Square For the best Barrons.com experience, please update to a modern browser. MicroStrategy While some had previously called for a dive to as low as $14,000 or worse, others remained convinced that May was more characteristic of a macro floor. The stocks in the list are: News articles about them where the technology was mentioned also counted. PayPal Stocks with exposure to cryptocurrencies have gotten a turbo-boost this year. (MSTR), Coinbase The list itself is not particularly novel, though it does at least create criteria for investors to consider if they want to embrace or avoid the industry. Fellow trader and analyst Pentoshi, meanwhile, predicted that BTC/USD could run to as high as $35,000 before entering its next major corrective phase, once more based on stock market movements.
As the price of Bitcoin and other coins has soared, public companies seen as proxies for the new asset class have sometimes risen even more than the cryptocurrencies themselves. The first seven of those received the highest possible score of nine; Nvidia scored a seven; and the rest scored a six. Data from Cointelegraph Markets Pro and TradingViewshowed BTC/USD threatening to head lower as the S&P 500 likewise opened with modest losses. Visa Van de Poppe had previouslydescribed predictions of $12,000 as "insane.". Goldman Sachs has put together a screening tool that tries to make that easier. Dabbling in these crypto-pioneers is a poor facsimile for the real thing, and it still leaves portfolios with exposure on the downside if the industry goes south. Investview (JPM), Silvergate Capital The median blockchain-related stock in the screen is trading at twice the price to earnings and enterprise value to sales multiples as the median U.S. stock.
"The correlation between the $SPX and $BTC is again close to 1, it feels like," Cointelegraph contributor Michal van de Poppe tweeted on the day, summarizing the mood.
BTC/USD has focused on the $30,000 mark since May 9, its surrounding corridor broken only by the immediate aftermath of the Terra LUNA implosion. Weighing the chances of either outcome, meanwhile, Twitter account Trader_J compared current price action to the 2018 bear market and cross-crypto crash of March 2020. Focusing on whether the current range would break up or down, meanwhile, opinions still varied widely. Riot Blockchain With several companies saying they are incorporating Bitcoin or blockchain technology into their business models, or buying Bitcoin outright, it can be hard for investors to gauge which stocks are truly bound to benefit or suffer based on Bitcoin price moves. Ideanomics Facebook (MA), An accompanying chart showed Bitcoin's Risk Metric, a tool devised by crypto quant analyst Benjamin Cowen, supporting the idea that lower levels were unlikely to enter. Still feel we rally to 33-35 before new lows fwiw https://t.co/tuZ9Ah7zxd. Tesla Brain drain: Indias crypto tax forces budding crypto projects to move, Bitcoin whale support lines up as trader says $14K 'most bearish' BTC price target, 5 indicators traders can use to know when a crypto bear market is ending, Bitcoin will finish 2022 flat, possibly up says analyst as Saylor bets on $1M BTC, Experts reveal what Teslas $936M sell-off means for Bitcoin, SEC objects to XRP holders aiding Ripple defense, Breaking: Tesla sold 75% of Bitcoin holdings in Q2, Nifty News: BAYC hodler loses 100 ETH in joke domain sale gone wrong, US Congressman blasts SEC for non-judicial actions against crypto companies. https://www.barrons.com/articles/these-19-stocks-can-give-exposure-to-bitcoin-according-to-goldman-51619540345. Analyst Ben Snider used three main criteria to identify stocks that are closely tied to Bitcoin or the blockchain technology that powers it. I have already said that it is exactly 2020. (FB), Bitcoin (BTC) wicked through $30,000 during June 9 as the Wall Street open revealed an ongoing stocks correlation. And lastly, they looked at membership in six blockchain-related indexes and exchange-traded funds, such as the Maybe that's the Bottom," he told followers. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Marathon Digital Holdings The pair had stayed in a tight range through June 8, this following episodes of volatility, which proved dangerous for long and short traders alike. Most of the stocks are pricier than average. Holdings (PYPL), (SI), Related:Bitcoin will finish 2022 flat, possibly up says analyst as Saylor bets on $1M BTC. This copy is for your personal, non-commercial use only. Every investment and trading move involves risk, you should conduct your own research when making a decision. Mastercard (IDEX), Van de Poppe predicted that the readout, which covers the month of May, would not beat the April figure, this coming after data from Europe hinted that inflation was already slowing down. (MARA),
His search was limited to stocks with market caps greater than $1 billion. (IBM), and Nvidia On average, the 19 stocks on the list have risen 46% this year, versus 12% for the Bitcoin simply will not budge from its multi-week range, and morale is suffering as a result. Watch out, TikTok: 105 million micro-video fans are jumping into crypto. An error has occurred, please try again later. Overstock.com S&P 500. Being on this list also tends to come with new risks. While SPX has played out so far the lag on btc has been disappointing. (V), Bank of New York Mellon We've detected you are on Internet Explorer. (INVU), Global (COIN). The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved. Siren Nasdaq NexGen Economy First, Goldman looked for stocks that had mentioned Bitcoin or blockchain in public filings, presentations, or transcripts of their earnings calls. Next, they looked for companies whose stock prices had been most correlated with changes in Bitcoins price over the prior 12 months. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. IBM (BK), Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved.
(BR), The main reason Coinbase isnt a nine (which it almost certainly would be) is that Goldman gives points only for stock correlation to Bitcoin if a stock has been trading for at least 12 months, and Coinbase just went public.
JPMorgan Chase (RIOT), Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. (NVDA), This copy is for your personal, non-commercial use only. (SQ), (TSLA), General sentiment, while low according to indicators, was one of frustration for seasoned market pundits. Broadridge Financial Solutions ETF (ticker: BLCN). Bitcoin is up 86%. "Going into tomorrow; I think we'll see the same from the U.S. which can benefit relief," part of a further Twitter post read. It apparently has settled in and intends to live there forever," analyst and podcast host Scott Melker, known as the "Wolf of All Streets," reacted to the current trend. One reason for that dynamic is that traditional investors have limited options for buying Bitcoin in their portfolios, and some appear to be trying to gain exposure through the handful of stocks that have embraced the technology. Those who believe in Bitcoin should probably just buy it outright. (OSTK), "Bitcoin recently purchased a beautiful yet affordable home at a low-interest rate for 30 years in a quiet town called 30K. Is asymmetric information driving cryptos wild price swings? Square For the best Barrons.com experience, please update to a modern browser. MicroStrategy While some had previously called for a dive to as low as $14,000 or worse, others remained convinced that May was more characteristic of a macro floor. The stocks in the list are: News articles about them where the technology was mentioned also counted. PayPal Stocks with exposure to cryptocurrencies have gotten a turbo-boost this year. (MSTR), Coinbase The list itself is not particularly novel, though it does at least create criteria for investors to consider if they want to embrace or avoid the industry. Fellow trader and analyst Pentoshi, meanwhile, predicted that BTC/USD could run to as high as $35,000 before entering its next major corrective phase, once more based on stock market movements.
As the price of Bitcoin and other coins has soared, public companies seen as proxies for the new asset class have sometimes risen even more than the cryptocurrencies themselves. The first seven of those received the highest possible score of nine; Nvidia scored a seven; and the rest scored a six. Data from Cointelegraph Markets Pro and TradingViewshowed BTC/USD threatening to head lower as the S&P 500 likewise opened with modest losses. Visa Van de Poppe had previouslydescribed predictions of $12,000 as "insane.". Goldman Sachs has put together a screening tool that tries to make that easier. Dabbling in these crypto-pioneers is a poor facsimile for the real thing, and it still leaves portfolios with exposure on the downside if the industry goes south. Investview (JPM), Silvergate Capital The median blockchain-related stock in the screen is trading at twice the price to earnings and enterprise value to sales multiples as the median U.S. stock.
"The correlation between the $SPX and $BTC is again close to 1, it feels like," Cointelegraph contributor Michal van de Poppe tweeted on the day, summarizing the mood. BTC/USD has focused on the $30,000 mark since May 9, its surrounding corridor broken only by the immediate aftermath of the Terra LUNA implosion. Weighing the chances of either outcome, meanwhile, Twitter account Trader_J compared current price action to the 2018 bear market and cross-crypto crash of March 2020. Focusing on whether the current range would break up or down, meanwhile, opinions still varied widely. Riot Blockchain With several companies saying they are incorporating Bitcoin or blockchain technology into their business models, or buying Bitcoin outright, it can be hard for investors to gauge which stocks are truly bound to benefit or suffer based on Bitcoin price moves. Ideanomics Facebook (MA), An accompanying chart showed Bitcoin's Risk Metric, a tool devised by crypto quant analyst Benjamin Cowen, supporting the idea that lower levels were unlikely to enter. Still feel we rally to 33-35 before new lows fwiw https://t.co/tuZ9Ah7zxd. Tesla Brain drain: Indias crypto tax forces budding crypto projects to move, Bitcoin whale support lines up as trader says $14K 'most bearish' BTC price target, 5 indicators traders can use to know when a crypto bear market is ending, Bitcoin will finish 2022 flat, possibly up says analyst as Saylor bets on $1M BTC, Experts reveal what Teslas $936M sell-off means for Bitcoin, SEC objects to XRP holders aiding Ripple defense, Breaking: Tesla sold 75% of Bitcoin holdings in Q2, Nifty News: BAYC hodler loses 100 ETH in joke domain sale gone wrong, US Congressman blasts SEC for non-judicial actions against crypto companies. https://www.barrons.com/articles/these-19-stocks-can-give-exposure-to-bitcoin-according-to-goldman-51619540345. Analyst Ben Snider used three main criteria to identify stocks that are closely tied to Bitcoin or the blockchain technology that powers it. I have already said that it is exactly 2020. (FB), Bitcoin (BTC) wicked through $30,000 during June 9 as the Wall Street open revealed an ongoing stocks correlation. And lastly, they looked at membership in six blockchain-related indexes and exchange-traded funds, such as the Maybe that's the Bottom," he told followers. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Marathon Digital Holdings The pair had stayed in a tight range through June 8, this following episodes of volatility, which proved dangerous for long and short traders alike. Most of the stocks are pricier than average. Holdings (PYPL), (SI), Related:Bitcoin will finish 2022 flat, possibly up says analyst as Saylor bets on $1M BTC. This copy is for your personal, non-commercial use only. Every investment and trading move involves risk, you should conduct your own research when making a decision. Mastercard (IDEX), Van de Poppe predicted that the readout, which covers the month of May, would not beat the April figure, this coming after data from Europe hinted that inflation was already slowing down. (MARA),
His search was limited to stocks with market caps greater than $1 billion. (IBM), and Nvidia On average, the 19 stocks on the list have risen 46% this year, versus 12% for the Bitcoin simply will not budge from its multi-week range, and morale is suffering as a result. Watch out, TikTok: 105 million micro-video fans are jumping into crypto. An error has occurred, please try again later. Overstock.com S&P 500. Being on this list also tends to come with new risks. While SPX has played out so far the lag on btc has been disappointing. (V), Bank of New York Mellon We've detected you are on Internet Explorer. (INVU), Global (COIN). The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved. Siren Nasdaq NexGen Economy First, Goldman looked for stocks that had mentioned Bitcoin or blockchain in public filings, presentations, or transcripts of their earnings calls. Next, they looked for companies whose stock prices had been most correlated with changes in Bitcoins price over the prior 12 months. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. IBM (BK), Copyright 2022 Dow Jones & Company, Inc. All Rights Reserved.
(BR), The main reason Coinbase isnt a nine (which it almost certainly would be) is that Goldman gives points only for stock correlation to Bitcoin if a stock has been trading for at least 12 months, and Coinbase just went public.