Bitcoin

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<p class="has-drop-cap">The divergent fortunes of two tech titans were on display in premarket trading today as cryptocurrency exchange Coinbase Global Inc. (NASDAQ: COIN) soared amid a <a href="https://tokenist.com/can-2024-be-a-landmark-year-for-bitcoin-btc/" rel="dofollow" class="deco-link">record-setting Bitcoin (BTC) rally</a>. At the same time, chip maker Nvidia Corp. (NASDAQ: NVDA) shares tumbled on the fallout from an AI-related <a href="https://www.pymnts.com/artificial-intelligence-2/2024/author-lawsuit-accuses-nvidia-of-copyright-infringement/" target="_blank" aria-label="lawsuit (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">lawsuit</a>. </p> 
<h3 id="coinbase-rallies-as-bitcoin-hits-ath">Coinbase Rallies as Bitcoin Hits ATH</h3> 
<p>Coinbase Global Inc. shares surged on Friday, with the cryptocurrency exchange platform’s stock closing at $256.62, up $14 or 5.77% amid an elevated trading volume of 21.9 million shares. The rally, which saw Coinbase’s price hit $272.91 in <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="dofollow" class="deco-link">premarket trading</a> today for a 6.35% gain, extended the stock’s upward trajectory over the past 52 weeks, during which it has ranged from $46.43 to $270.55.</p> 
<p>Coinbase’s $62.2 billion market cap reflects its status as the preeminent <a href="https://tokenist.com/investing/how-to-invest-in-bitcoin/" rel="dofollow" class="deco-link">U.S. crypto</a> trading venue. While analysts cited potential near-term headwinds, the digital assets bull market bolsters the company’s strong performance. Recently, Goldman Sachs upgraded the stock with a <a href="https://www.wallstreetzen.com/news/coinbase-receives-rating-upgrade-from-goldman-sachs-analyst" target="_blank" aria-label="$292 price target (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">$292 price target</a>.</p> 
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<h3 id="nvidia-tumbles-after-lawsuit">Nvidia Tumbles After Lawsuit</h3> 
<p>Nvidia Corp. shares fell sharply last Friday, tumbling $51.41 or 5.55% to close at $875.28 on the massive volume of 114.2 million shares, more than double the average trading volume. The chip maker’s retreat, which saw the stock briefly dip below $867 in premarket trading, came amid a broader pullback in technology shares and provided a wake-up call for the <a href="https://tokenist.com/amd-vs-nvidia-in-2024-which-ai-stock-makes-more-sense-for-your-portfolio/" rel="dofollow" class="deco-link">AI-driven market rally</a> propelling Nvidia to <a href="https://tokenist.com/nvidia-shares-rise-premarket-after-goldman-sachs-raises-pt-to-800/" class="deco-link">record highs</a>.</p> 
<p>Despite the recent pullback, Nvidia remains one of the world’s most highly valued companies, following its 52-week range of $222.97 to $974. While Nvidia’s leadership in artificial intelligence solutions has fueled optimism, Friday’s downdraft signals investors may have gotten ahead of the AI market’s near-term prospects. A recent group of writers also started a class-action lawsuit over using copyright material to train Nvidia’s generative models.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><strong><em>Do you see Bitcoin continuing its rally into 2024? Let us know in the comments below.</em></strong></p> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/coinbase-rallies-as-bitcoin-hits-ath-nvidia-tumbles-after-lawsuit/">Coinbase Rallies as Bitcoin Hits ATH, Nvidia Tumbles After Lawsuit</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Coinbase Rallies as Bitcoin Hits ATH, Nvidia Tumbles After Lawsuit

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