- Bitcoin price surged to the highest level since July last year.
- This surge is set to push crypto companies like Riot Platforms and Marathon Digital higher.
- Other companies like MSTR and Coinbase are also expected to continue soaring.
Bitcoin assets will be in the spotlight on Tuesday as investors cheer the great BTC comeback. BTC surged above the key resistance level at $32,000 and then jumped to the key level at $35,000.
It has risen by over 70% in the past 12 months, outperforming key financial assets like gold, Nasdaq 100, and S&P 500 indices. Other cryptocurrencies have been in a strong bullish trend, with Chainlink, Celer Network, Mina, Pepe, and Rocket Pool surging by double digits.
The impact of this rally is being felt across the cryptocurrency industry. For one, top Bitcoin mining stocks like Argo Blockchain, Riot Platforms, Marathon Digital, and Hut 8 Mining have continued soaring.
MARA stock price surged by more than 12% on Monday and the trend will continue on Monday. Similarly, Riot Platforms share price jumped by 9% while Hut 8 Mining have jumped by over 12%. Other Bitcoin mining stocks like Argo Blockchain and Cipher Mining have roared back.
Other companies in the crypto industry are also set to continue soaring. Coinbase stock price rose by 3.4% on Monday. This is an important move since the company is the biggest exchange in the United States.
MicroStrategy stock price soared by 8% on Monday and by over 7% in extended hours. This rally happened because the company owns the most Bitcoins in the world. Its Bitcoin holdings have already turned a profit in the past few months. Other assets like BITO and Bakkt have also jumped.
These assets have roared back in the past few weeks as demand for Bitcoin continued. For example, the ongoing crypto rally means that exchanges like Coinbase, Binance, and OKX will see more volume in the coming days.
At the same time, the ongoing Bitcoin rally will lead to more profit margins for Bitcoin mining companies like Argo Blockchain and Riot Platforms. The same is true for other companies in the crypto industry.
