Navigating the Upcoming Crypto Earnings Calendar: Bitcoin Price Explosive Rally To $100,000 Imminent?
The earnings season is upon us—a time when companies report their performance for Q1. Investors in the crypto market will be on the lookout for the best-performing stocks, providing insight into future growth patterns, especially with cryptocurrencies dealing with high volatility. Meanwhile, Bitcoin (BTC) price has shown resilience, navigating the crypto earnings calendar by returning above $67,000 chasing the current record highs of $73,837, CoinGecko data shows.
What The Crypto Earning Calendar Means To Investors
The Earnings season calls upon investors to reevaluate their positions in various stocks. Analysts’ reviews and reports will also come in handy during this period. Insights from these reports will play a critical role for investors seeking to understand the performance of publicly traded crypto companies as well as help shape the trends for the broader market.
According to a report by Finextra, “Each earnings report this week provides valuable data that can influence investment decisions and market perspectives. As always, staying informed and analyzing these reports in the context of global economic conditions will be key to navigating the markets effectively.”
Companies that have already released their earnings in May include Robinhood, and Coinbase while DMG Blockchain Solutions and Crypto Co are expected to hold financial update on May 20.
Often crypto stocks perform well when crypto prices are moving up and retreat in tandem with pullbacks in digital assets. MicroStrategy (MSTR) stock has in the last two quarters achieved unprecedented levels buoyed by the bullish narrative, especially with Bitcoin price.
The stock according to Yahoo Finance data changes at $1,668 from January’s lowest point of $448. Following the correction in Bitcoin price to $56,500 in April, MSTR retraced to $1,030 before resuming the uptrend, mirroring the bullish outlook in BTC in May.
Bitcoin Price Ignites Breakout To Close Gap To $100,000
After playing doldrums during the weekend correction below $67,000, BTC has renewed its bullish outlook, topping $68,000 on Monday. A 64% surge in the trading volume to $28 billion backs a 2.65% increase in value to $68,470, based on CoinMarketCap data.
Several indicators and matters reinforce the bullish thesis, starting with a buy signal from the Moving Average Convergence Divergence (MACD) indicator. Green histograms also validate the uptrend reaching $70,000.
FOMO will likely kick in as Bitcoin climbs above $70,000. Action beyond the record high in March could quickly close the gap to $80,000 affirming a breakout to $100,000.
A golden cross pattern formed when the 20-day Exponential Moving Average (EMA) climbed above the 50-day EMA shows that buyers have the upper hand. Traders will be on the lookout for a daily close above $68,000—a move likely to prevent further correction while favoring a breakout above $70,000.
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