As a seasoned researcher with over two decades of experience under my belt, I find the recent coverage by H.C. Wainwright on Galaxy Digital Holdings quite intriguing. Mike Colonnese’s analysis resonates deeply with me, given my long-standing fascination with the digital asset market and its potential for growth.
Financial analyst firm H.C. Wainwright has started its analysis of Galaxy Digital Holdings’ stock, recommending investors to buy this stock with a predicted price of $24 Canadian dollars.
According to analyst Mike Colonnese, the stocks of the American company specializing in digital assets provide the varied investment opportunities that investors look for when considering new positions.
Galaxy’s operations indicate potential short-term triggers, such as growth driven by the anticipated 2025 cryptocurrency bull run. However, it seems that the current GLXY stock price has not fully incorporated this expected bull market yet, according to the analyst’s observation.
Analyst forecasts 36% upside for Galaxy stock
Additionally, the positive outlook for the company is strengthened by factors like increasing institutional investment, clearer regulations in the U.S., and an anticipated Nasdaq listing scheduled for 2025.
As a crypto investor, I’m excited about the potential 36% growth H.C. Wainwright foresees for our stock, which is currently trading near $17.63.
In addition, Colonnese points out that stocks from Galaxy Digital have tended to surge ahead of crypto prices during market upswings. This trend, seen over a four-year cycle in the digital assets sector, predicts that GLXY could yield around 70% return by the end of 2024, while Bitcoin (BTC) might only achieve about 50%.
The analyst expressed confidence that the current bull market is only in its third inning, predicting a significant surge in Bitcoin and other cryptocurrencies starting in Q4 of 2024 and continuing through Q4 of 2025.
Established in 2018, Galaxy Digital provides a comprehensive range of services and products related to digital assets, catering to various markets worldwide. These services encompass asset management, as well as digital infrastructure solutions such as Bitcoin mining operations and network validator services.
According to their latest announcement, Galaxy anticipates significant expansion for the digital asset market, which currently stands at $2.3 trillion, due to its increasing popularity.
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2024-10-10 18:01