The Crypto Boom: Why These 3 Stocks Could Double in the Next 12 Months
As the crypto market continues to consolidate, many investors are wondering what’s next for Bitcoin and other digital assets. While some may be skeptical about the current state of the market, I believe that we’re on the cusp of a major breakout. In this article, I’ll explain why I think three crypto stocks could double in the next 12 months.
The Perfect Storm for Crypto
The current market conditions are ripe for a crypto boom. With interest rates likely to be cut multiple times in the next 12 to 18 months, easy money will flow into the market, driving up the value of digital assets. Additionally, the limited supply of Bitcoin and other cryptocurrencies means that prices will inevitably rise as adoption increases.
Bitcoin’s price chart shows a clear consolidation zone
Coinbase Global (COIN)
Coinbase is one of the largest centralized crypto exchanges in the world, and its stock has been sideways for the past year. I believe this is a great accumulation opportunity, with a forward price-to-earnings ratio of 31x. The company’s aggressive international expansion plans will drive growth, and its institutional trading platform, Coinbase Prime, has already hit all-time highs in trading volume and active clients.
Coinbase is a leading crypto exchange
Riot Platforms (RIOT)
Riot Platforms is an undervalued Bitcoin miner with strong fundamentals and massive expansion plans. The company has a zero-debt balance sheet and a cash buffer of $1.3 billion, positioning it for aggressive growth. With a hash rate capacity of 12.5EH/s and plans to increase it to 31.5EH/s by the end of the year, Riot is poised for a sharp rally.
Bitcoin mining is a key driver of the crypto market
Block (SQ)
Block is a fintech company that has been investing 10% of its gross profit from Bitcoin products into buying the cryptocurrency. As the value of Bitcoin increases, Block will benefit from higher financial flexibility. The company’s Cash App has over 21 million active users buying, selling, or holding Bitcoin, and its success will drive growth.
Cash App is a popular platform for Bitcoin transactions
In conclusion, these three crypto stocks have the potential to double in the next 12 months. With the crypto market poised for a breakout, now is the time to accumulate these stocks and ride the wave of growth.
