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Stock impact report

Brian's Big Idea: Bitcoin [Yahoo! Finance]

Cipher Mining Inc. (CIFR) 
Company Research Source: Yahoo! Finance
In this video today Brian takes another look at Bitcoin. The recent weakness in the market has sent many of the bitcoin stocks much lower and the question is if this presents a buying opportunity or not. Brian starts off with a look at an ETF that tracks Bitcoin, but since it doesn't have a Zacks Rank we are really left with technical analysis to help predict the movements in the underlying security. When people mention Bitcoin and want to trade it in the equity markets they often look at MicroStrategy MSTR. This stock also does not have a Zacks Rank as there are no analysts submitting estimates to the Zacks Consensus. Investors that are looking for leverage when investing in Bitcoin can use MSTX or MSTU for 2x the impact of the stock. The leverage can really help in a bull market for crypto, but it can also be rather painful in a bear market. Next up if Coinbase COIN which is also a Zacks Rank #1 (Strong Buy). This company is a crypto trading platform that has seen a big pull Show less Read more
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