Is Canaan Inc. (CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?

Insider Monkey11-13

We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street. In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the ...

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Fistein
·11-14
$Canaan Inc.(CAN)$ $3 Target Price set by WallStreet analysis. The attached article highlights the positive performance and potential future growth of Canaan Inc.
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Fistein
·11-13
$Canaan Inc.(CAN)$ $3 Target Price by WallStreet analysis. The article explains why Canaan Inc (CAN)- a mining hardwares manufacturer for leading crypto & bitcoin companies like HIVE Technologies and Coinbase- is currently one of the most undervalued crypto-related stock bound to soar to new heights [Call]
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(CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 09:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street. In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html","article_id":"2483090488","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/SS0jPhqjAgIyDKZxgzSkUA--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/f58803c81a650565b8d935e10c33dc8f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483090488","pubTimestamp":1731461183,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street.In this article, we are going to take a look at where Canaan Inc.  stands against the other cryptocurrency stocks.How’s the US Crypto Market Unfolding Post-Election?Post Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.Bitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks th","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念",".IXIC":"NASDAQ Composite","QID":"纳指两倍做空ETF","PSQ":"纳指反向ETF","BK4588":"碎股","BK4526":"热门中概股","BK4595":"比特币概念","BK4170":"电脑硬件、储存设备及电脑周边","QLD":"纳指两倍做多ETF","CAN":"嘉楠科技","SQQQ":"纳指三倍做空ETF","TQQQ":"纳指三倍做多ETF"},"translate_title":"根据华尔街的说法，嘉楠耘智(CAN)是最值得购买的加密货币股票吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CAN":1,".IXIC":0.9,"MNQmain":0.6,"NQmain":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"SQQQ":0.6,"TQQQ":0.6},"content_text":"We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street. In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the other cryptocurrency stocks.\nHow’s the US Crypto Market Unfolding Post-Election?\nPost Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.\nWhile Trump has revealed his plans to make America the crypto capital of the world, he has stated that he would be sacking the current chair of the Securities and Exchange Commission, Gary Gensler, who has led the SEC's crackdown on the crypto market. Gensler tried to regulate the market which he believed, was at least partially made up of securities trading illegally. Market analyst at StoneX Financial, Matt Simpson, emphasized that bitcoin prices could go as high as $100,000 in case the Trump administration deregulates crypto.\nAlthough Trump was once railing against cryptocurrencies, he later embraced crypto as he started a new crypto business called World Liberty Financial in September. While commenting on the crypto industry, he said “It’s very young and very growing” and that he believes in it. He has also expressed support for domestic Bitcoin miners saying that if crypto is going to define the future, he wants it to be mined, minted, and made in the US.\nMarket Anticipation: Is Crypto in a Golden Era?\nBitcoin has surged more than 26% since election day on November 5. As reported by CNBC, Mike Colonnese, an analyst at H.C. Wainwright, stated:\n\n“Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election. Strong positive sentiment is likely to persist through the balance of 2024 and [we] see bitcoin prices potentially reaching the six-figure mark by the end of this year.”\n\nAs the crypto market anticipates a positive and bright regulatory climate under the Trump administration, crypto-focused stocks also surged post-election. Vice President and General Manager of Robinhood, Johann Kerbrat, appeared on CNBC and referred to the post-election scenario as a big moment for the firm on the crypto side considering bitcoin was not even a fraction of its current price two years ago. The firm saw a lot of activity on the crypto volume. While the company has faced scrutiny from the SEC under the Biden administration, Kerbrat is hopeful to see more crypto-friendly policymaking.\nBitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks that crypto has been fighting with one hand tied behind its back during the past four years and has faced a lot of regulatory unclarity, the scenario has shifted 180 degrees with a positive regulatory environment to look forward to. Finally, Hougan calls the market a win-win post-election. Regarding the future outlook for Bitcoin, he states that there is a clear path right up to $100,000 by 2024’s end while $200,000 is completely reasonable for 2025, considering that the trend is up and is going to stay intact for a while.\nOur Methodology:\nIn order to compile a list of the 12 best cryptocurrency stocks to buy according to Wall Street, we first utilized stock screeners, ETFs, and online rankings to make an extended list of the major crypto companies. Moving on, we shortlisted the top 12 stocks from our list which had the highest upside potential, as of November 12. The 12 best cryptocurrency stocks to buy according to Wall Street have been arranged in ascending order of their average upside potential.\nAt Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A close up view of a final mining equipment used in bitcoin mining. \nCanaan Inc. (NASDAQ:CAN)\nAverage Upside Potential: 41.64%\nCanaan Inc. (NASDAQ:CAN) is the world’s leading manufacturer of Bitcoin miners. The firm created the world’s first ASIC Bitcoin miner and is also the first mining machine manufacturer to be listed on the Nasdaq. The firm remains dedicated to developing and selling Bitcoin mining machines and related services. While Canaan has headquarters in Singapore, it operates offices in China, North America, and Central Asia.\nCanaan is a global company with its machines sold in 21 countries and regions around the world. The firm supports Bitcoin mining for major public companies including Cipher Mining, Marathon, Digital Holdings, and Stronghold Digital Mining. These firms have deemed Canaan machines as the top-performing rigs in their fleet as well as one of the miners (A1346) offering an attractive value proposition with remarkable hash rate, energy efficiency, and competitive pricing.\nFor 2024’s second quarter, Canaan Inc. (NASDAQ:CAN) posted revenues of $71.9 million, exceeding the previous guidance of $70 million, and rose 104.8% sequentially. The top-line performance was despite the Bitcoin halving event, primarily driven by the concentrated delivery of  A14 products accounting for the largest share of the firm’s revenue. The new A1566 product has also gotten active customer orders since its launch. The firm saw itself on a trajectory of renewed growth as it remained confident in opportunities presented by Bitcoin and the beginning of a bull market, as it closed the quarter.\nWith an average upside potential of 41.64%, Canaan Inc. (NASDAQ:CAN) ranks as a top cryptocurrency stock. The firm is a leading provider of Bitcoin miners with a solid global presence.\nOverall CAN ranks 4th on our list of the best cryptocurrency stocks to buy according to Wall Street. While we acknowledge the potential of CAN as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than CAN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.   \nDisclosure: None. This article is originally published at Insider Monkey.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":370654919725416,"gmtCreate":1731531054576,"gmtModify":1731531058651,"author":{"id":"4166010875528092","authorId":"4166010875528092","name":"Fistein","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":6,"crmLevelSwitch":1,"authorIdStr":"4166010875528092","idStr":"4166010875528092"},"htmlText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v> &nbsp;$3 Target Price set by WallStreet analysis. The attached&nbsp;article highlights the positive performance and potential future growth of Canaan Inc.&nbsp;","listText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v> &nbsp;$3 Target Price set by WallStreet analysis. The attached&nbsp;article highlights the positive performance and potential future growth of Canaan Inc.&nbsp;","text":"$Canaan Inc.(CAN)$ $3 Target Price set by WallStreet analysis. The attached article highlights the positive performance and potential future growth of Canaan Inc.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370654919725416","repostId":2483090488,"repostType":2,"repost":{"id":"2483090488","pubTimestamp":1731461183,"share":"https://ttm.financial/m/news/2483090488?lang=&edition=fundamental","pubTime":"2024-11-13 09:26","market":"us","language":"en","title":"Is Canaan Inc. (CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?","url":"https://stock-news.laohu8.com/highlight/detail?id=2483090488","media":"Insider Monkey","summary":"We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street.In this article, we are going to take a look at where Canaan Inc.  stands against the other cryptocurrency stocks.How’s the US Crypto Market Unfolding Post-Election?Post Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.Bitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks th","content":"<html><body><p>We recently compiled a list of the <strong>12 Best Cryptocurrency Stocks to Buy According to Wall Street</strong>.<strong> </strong>In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the other cryptocurrency stocks.</p>\n<h2><strong>How’s the US Crypto Market Unfolding Post-Election?</strong></h2>\n<p>Post Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.</p>\n<p>While Trump has revealed his plans to make America the crypto capital of the world, he has stated that he would be sacking the current chair of the Securities and Exchange Commission, Gary Gensler, who has led the SEC's crackdown on the crypto market. Gensler tried to regulate the market which he believed, was at least partially made up of securities trading illegally. Market analyst at StoneX Financial, Matt Simpson, emphasized that bitcoin prices could go as high as $100,000 in case the Trump administration deregulates crypto.</p>\n<p>Although Trump was once railing against cryptocurrencies, he later embraced crypto as he started a new crypto business called World Liberty Financial in September. While commenting on the crypto industry, he said “It’s very young and very growing” and that he believes in it. He has also expressed support for domestic Bitcoin miners saying that if crypto is going to define the future, he wants it to be mined, minted, and made in the US.</p>\n<h2><strong>Market Anticipation: Is Crypto in a Golden Era?</strong></h2>\n<p>Bitcoin has surged more than 26% since election day on November 5. As reported by CNBC, Mike Colonnese, an analyst at H.C. Wainwright, stated:</p>\n<blockquote>\n<p>“Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election. Strong positive sentiment is likely to persist through the balance of 2024 and [we] see bitcoin prices potentially reaching the six-figure mark by the end of this year.”</p>\n</blockquote>\n<p>As the crypto market anticipates a positive and bright regulatory climate under the Trump administration, crypto-focused stocks also surged post-election. Vice President and General Manager of <a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>, Johann Kerbrat, appeared on CNBC and referred to the post-election scenario as a big moment for the firm on the crypto side considering bitcoin was not even a fraction of its current price two years ago. The firm saw a lot of activity on the crypto volume. While the company has faced scrutiny from the SEC under the Biden administration, Kerbrat is hopeful to see more crypto-friendly policymaking.</p>\n<p>Bitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks that crypto has been fighting with one hand tied behind its back during the past four years and has faced a lot of regulatory unclarity, the scenario has shifted 180 degrees with a positive regulatory environment to look forward to. Finally, Hougan calls the market a win-win post-election. Regarding the future outlook for Bitcoin, he states that there is a clear path right up to $100,000 by 2024’s end while $200,000 is completely reasonable for 2025, considering that the trend is up and is going to stay intact for a while.</p>\n<p><strong><em>Our Methodology:</em></strong></p>\n<p>In order to compile a list of the 12 best cryptocurrency stocks to buy according to Wall Street, we first utilized stock screeners, ETFs, and online rankings to make an extended list of the major crypto companies. Moving on, we shortlisted the top 12 stocks from our list which had the highest upside potential, as of November 12. The 12 best cryptocurrency stocks to buy according to Wall Street have been arranged in ascending order of their average upside potential.</p>\n<p>At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points <strong>(</strong><strong>see more details here</strong><strong>)</strong>.</p>\n<img height=\"816\" src=\"https://s.yimg.com/uu/api/res/1.2/005AslDJoA6go49h9DEL3Q--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/insidermonkey.com/f58803c81a650565b8d935e10c33dc8f\" width=\"1456\"/> A close up view of a final mining equipment used in bitcoin mining. \n<h3><strong>Canaan Inc. (NASDAQ:CAN)</strong></h3>\n<p><strong><em>Average Upside Potential:</em></strong> <strong><em>41.64%</em></strong></p>\n<p>Canaan Inc. (NASDAQ:CAN) is the world’s leading manufacturer of Bitcoin miners. The firm created the world’s first ASIC Bitcoin miner and is also the first mining machine manufacturer to be listed on the Nasdaq. The firm remains dedicated to developing and selling Bitcoin mining machines and related services. While Canaan has headquarters in Singapore, it operates offices in China, North America, and Central Asia.</p>\n<p>Canaan is a global company with its machines sold in 21 countries and regions around the world. The firm supports Bitcoin mining for major public companies including Cipher Mining, Marathon, Digital Holdings, and Stronghold Digital Mining. These firms have deemed Canaan machines as the top-performing rigs in their fleet as well as one of the miners (A1346) offering an attractive value proposition with remarkable hash rate, energy efficiency, and competitive pricing.</p>\n<p>For 2024’s second quarter, Canaan Inc. (NASDAQ:CAN) posted revenues of $71.9 million, exceeding the previous guidance of $70 million, and rose 104.8% sequentially. The top-line performance was despite the Bitcoin halving event, primarily driven by the concentrated delivery of  A14 products accounting for the largest share of the firm’s revenue. The new A1566 product has also gotten active customer orders since its launch. The firm saw itself on a trajectory of renewed growth as it remained confident in opportunities presented by Bitcoin and the beginning of a bull market, as it closed the quarter.</p>\n<p>With an average upside potential of 41.64%, Canaan Inc. (NASDAQ:CAN) ranks as a top cryptocurrency stock. The firm is a leading provider of Bitcoin miners with a solid global presence.</p>\n<p>Overall CAN <strong>ranks 4th</strong> on our list of the best cryptocurrency stocks to buy according to Wall Street. While we acknowledge the potential of CAN as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than CAN but that trades at less than 5 times its earnings, check out our report about the <strong>cheapest AI stock</strong>.</p>   \n<p><strong>READ NEXT: </strong><strong>8 Best Wide Moat Stocks to Buy Now</strong><strong> and</strong><strong> </strong><strong>30 Most Important AI Stocks According to BlackRock</strong>.</p>   \n<p>Disclosure: None. This article is originally published at Insider Monkey.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Canaan Inc. (CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Canaan Inc. (CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 09:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street. In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/SS0jPhqjAgIyDKZxgzSkUA--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/f58803c81a650565b8d935e10c33dc8f","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念",".IXIC":"NASDAQ Composite","QID":"纳指两倍做空ETF","PSQ":"纳指反向ETF","BK4588":"碎股","BK4526":"热门中概股","BK4595":"比特币概念","BK4170":"电脑硬件、储存设备及电脑周边","QLD":"纳指两倍做多ETF","CAN":"嘉楠科技","SQQQ":"纳指三倍做空ETF","TQQQ":"纳指三倍做多ETF"},"source_url":"https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2483090488","content_text":"We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street. In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the other cryptocurrency stocks.\nHow’s the US Crypto Market Unfolding Post-Election?\nPost Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.\nWhile Trump has revealed his plans to make America the crypto capital of the world, he has stated that he would be sacking the current chair of the Securities and Exchange Commission, Gary Gensler, who has led the SEC's crackdown on the crypto market. Gensler tried to regulate the market which he believed, was at least partially made up of securities trading illegally. Market analyst at StoneX Financial, Matt Simpson, emphasized that bitcoin prices could go as high as $100,000 in case the Trump administration deregulates crypto.\nAlthough Trump was once railing against cryptocurrencies, he later embraced crypto as he started a new crypto business called World Liberty Financial in September. While commenting on the crypto industry, he said “It’s very young and very growing” and that he believes in it. He has also expressed support for domestic Bitcoin miners saying that if crypto is going to define the future, he wants it to be mined, minted, and made in the US.\nMarket Anticipation: Is Crypto in a Golden Era?\nBitcoin has surged more than 26% since election day on November 5. As reported by CNBC, Mike Colonnese, an analyst at H.C. Wainwright, stated:\n\n“Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election. Strong positive sentiment is likely to persist through the balance of 2024 and [we] see bitcoin prices potentially reaching the six-figure mark by the end of this year.”\n\nAs the crypto market anticipates a positive and bright regulatory climate under the Trump administration, crypto-focused stocks also surged post-election. Vice President and General Manager of Robinhood, Johann Kerbrat, appeared on CNBC and referred to the post-election scenario as a big moment for the firm on the crypto side considering bitcoin was not even a fraction of its current price two years ago. The firm saw a lot of activity on the crypto volume. While the company has faced scrutiny from the SEC under the Biden administration, Kerbrat is hopeful to see more crypto-friendly policymaking.\nBitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks that crypto has been fighting with one hand tied behind its back during the past four years and has faced a lot of regulatory unclarity, the scenario has shifted 180 degrees with a positive regulatory environment to look forward to. Finally, Hougan calls the market a win-win post-election. Regarding the future outlook for Bitcoin, he states that there is a clear path right up to $100,000 by 2024’s end while $200,000 is completely reasonable for 2025, considering that the trend is up and is going to stay intact for a while.\nOur Methodology:\nIn order to compile a list of the 12 best cryptocurrency stocks to buy according to Wall Street, we first utilized stock screeners, ETFs, and online rankings to make an extended list of the major crypto companies. Moving on, we shortlisted the top 12 stocks from our list which had the highest upside potential, as of November 12. The 12 best cryptocurrency stocks to buy according to Wall Street have been arranged in ascending order of their average upside potential.\nAt Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A close up view of a final mining equipment used in bitcoin mining. \nCanaan Inc. (NASDAQ:CAN)\nAverage Upside Potential: 41.64%\nCanaan Inc. (NASDAQ:CAN) is the world’s leading manufacturer of Bitcoin miners. The firm created the world’s first ASIC Bitcoin miner and is also the first mining machine manufacturer to be listed on the Nasdaq. The firm remains dedicated to developing and selling Bitcoin mining machines and related services. While Canaan has headquarters in Singapore, it operates offices in China, North America, and Central Asia.\nCanaan is a global company with its machines sold in 21 countries and regions around the world. The firm supports Bitcoin mining for major public companies including Cipher Mining, Marathon, Digital Holdings, and Stronghold Digital Mining. These firms have deemed Canaan machines as the top-performing rigs in their fleet as well as one of the miners (A1346) offering an attractive value proposition with remarkable hash rate, energy efficiency, and competitive pricing.\nFor 2024’s second quarter, Canaan Inc. (NASDAQ:CAN) posted revenues of $71.9 million, exceeding the previous guidance of $70 million, and rose 104.8% sequentially. The top-line performance was despite the Bitcoin halving event, primarily driven by the concentrated delivery of  A14 products accounting for the largest share of the firm’s revenue. The new A1566 product has also gotten active customer orders since its launch. The firm saw itself on a trajectory of renewed growth as it remained confident in opportunities presented by Bitcoin and the beginning of a bull market, as it closed the quarter.\nWith an average upside potential of 41.64%, Canaan Inc. (NASDAQ:CAN) ranks as a top cryptocurrency stock. The firm is a leading provider of Bitcoin miners with a solid global presence.\nOverall CAN ranks 4th on our list of the best cryptocurrency stocks to buy according to Wall Street. While we acknowledge the potential of CAN as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than CAN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.   \nDisclosure: None. This article is originally published at Insider Monkey.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":370617238605888,"gmtCreate":1731500878640,"gmtModify":1731548298919,"author":{"id":"4166010875528092","authorId":"4166010875528092","name":"Fistein","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":6,"crmLevelSwitch":1,"authorIdStr":"4166010875528092","idStr":"4166010875528092"},"htmlText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v>$3 Target Price by WallStreet analysis. The article explains why Canaan Inc (CAN)- a mining&nbsp;hardwares manufacturer for leading crypto &amp; bitcoin companies like HIVE Technologies and Coinbase- is currently one of the most undervalued crypto-related stock bound to soar to new heights&nbsp;[Call]&nbsp;&nbsp;","listText":"<a href=\"https://ttm.financial/S/CAN\">$Canaan Inc.(CAN)$&nbsp;</a><v-v data-views=\"1\"></v-v>$3 Target Price by WallStreet analysis. The article explains why Canaan Inc (CAN)- a mining&nbsp;hardwares manufacturer for leading crypto &amp; bitcoin companies like HIVE Technologies and Coinbase- is currently one of the most undervalued crypto-related stock bound to soar to new heights&nbsp;[Call]&nbsp;&nbsp;","text":"$Canaan Inc.(CAN)$ $3 Target Price by WallStreet analysis. The article explains why Canaan Inc (CAN)- a mining hardwares manufacturer for leading crypto & bitcoin companies like HIVE Technologies and Coinbase- is currently one of the most undervalued crypto-related stock bound to soar to new heights [Call]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370617238605888","repostId":2483090488,"repostType":2,"repost":{"id":"2483090488","pubTimestamp":1731461183,"share":"https://ttm.financial/m/news/2483090488?lang=&edition=fundamental","pubTime":"2024-11-13 09:26","market":"us","language":"en","title":"Is Canaan Inc. (CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?","url":"https://stock-news.laohu8.com/highlight/detail?id=2483090488","media":"Insider Monkey","summary":"We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street.In this article, we are going to take a look at where Canaan Inc.  stands against the other cryptocurrency stocks.How’s the US Crypto Market Unfolding Post-Election?Post Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.Bitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks th","content":"<html><body><p>We recently compiled a list of the <strong>12 Best Cryptocurrency Stocks to Buy According to Wall Street</strong>.<strong> </strong>In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the other cryptocurrency stocks.</p>\n<h2><strong>How’s the US Crypto Market Unfolding Post-Election?</strong></h2>\n<p>Post Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.</p>\n<p>While Trump has revealed his plans to make America the crypto capital of the world, he has stated that he would be sacking the current chair of the Securities and Exchange Commission, Gary Gensler, who has led the SEC's crackdown on the crypto market. Gensler tried to regulate the market which he believed, was at least partially made up of securities trading illegally. Market analyst at StoneX Financial, Matt Simpson, emphasized that bitcoin prices could go as high as $100,000 in case the Trump administration deregulates crypto.</p>\n<p>Although Trump was once railing against cryptocurrencies, he later embraced crypto as he started a new crypto business called World Liberty Financial in September. While commenting on the crypto industry, he said “It’s very young and very growing” and that he believes in it. He has also expressed support for domestic Bitcoin miners saying that if crypto is going to define the future, he wants it to be mined, minted, and made in the US.</p>\n<h2><strong>Market Anticipation: Is Crypto in a Golden Era?</strong></h2>\n<p>Bitcoin has surged more than 26% since election day on November 5. As reported by CNBC, Mike Colonnese, an analyst at H.C. Wainwright, stated:</p>\n<blockquote>\n<p>“Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election. Strong positive sentiment is likely to persist through the balance of 2024 and [we] see bitcoin prices potentially reaching the six-figure mark by the end of this year.”</p>\n</blockquote>\n<p>As the crypto market anticipates a positive and bright regulatory climate under the Trump administration, crypto-focused stocks also surged post-election. Vice President and General Manager of <a href=\"https://laohu8.com/S/HOOD\">Robinhood</a>, Johann Kerbrat, appeared on CNBC and referred to the post-election scenario as a big moment for the firm on the crypto side considering bitcoin was not even a fraction of its current price two years ago. The firm saw a lot of activity on the crypto volume. While the company has faced scrutiny from the SEC under the Biden administration, Kerbrat is hopeful to see more crypto-friendly policymaking.</p>\n<p>Bitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks that crypto has been fighting with one hand tied behind its back during the past four years and has faced a lot of regulatory unclarity, the scenario has shifted 180 degrees with a positive regulatory environment to look forward to. Finally, Hougan calls the market a win-win post-election. Regarding the future outlook for Bitcoin, he states that there is a clear path right up to $100,000 by 2024’s end while $200,000 is completely reasonable for 2025, considering that the trend is up and is going to stay intact for a while.</p>\n<p><strong><em>Our Methodology:</em></strong></p>\n<p>In order to compile a list of the 12 best cryptocurrency stocks to buy according to Wall Street, we first utilized stock screeners, ETFs, and online rankings to make an extended list of the major crypto companies. Moving on, we shortlisted the top 12 stocks from our list which had the highest upside potential, as of November 12. The 12 best cryptocurrency stocks to buy according to Wall Street have been arranged in ascending order of their average upside potential.</p>\n<p>At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points <strong>(</strong><strong>see more details here</strong><strong>)</strong>.</p>\n<img height=\"816\" src=\"https://s.yimg.com/uu/api/res/1.2/005AslDJoA6go49h9DEL3Q--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/insidermonkey.com/f58803c81a650565b8d935e10c33dc8f\" width=\"1456\"/> A close up view of a final mining equipment used in bitcoin mining. \n<h3><strong>Canaan Inc. (NASDAQ:CAN)</strong></h3>\n<p><strong><em>Average Upside Potential:</em></strong> <strong><em>41.64%</em></strong></p>\n<p>Canaan Inc. (NASDAQ:CAN) is the world’s leading manufacturer of Bitcoin miners. The firm created the world’s first ASIC Bitcoin miner and is also the first mining machine manufacturer to be listed on the Nasdaq. The firm remains dedicated to developing and selling Bitcoin mining machines and related services. While Canaan has headquarters in Singapore, it operates offices in China, North America, and Central Asia.</p>\n<p>Canaan is a global company with its machines sold in 21 countries and regions around the world. The firm supports Bitcoin mining for major public companies including Cipher Mining, Marathon, Digital Holdings, and Stronghold Digital Mining. These firms have deemed Canaan machines as the top-performing rigs in their fleet as well as one of the miners (A1346) offering an attractive value proposition with remarkable hash rate, energy efficiency, and competitive pricing.</p>\n<p>For 2024’s second quarter, Canaan Inc. (NASDAQ:CAN) posted revenues of $71.9 million, exceeding the previous guidance of $70 million, and rose 104.8% sequentially. The top-line performance was despite the Bitcoin halving event, primarily driven by the concentrated delivery of  A14 products accounting for the largest share of the firm’s revenue. The new A1566 product has also gotten active customer orders since its launch. The firm saw itself on a trajectory of renewed growth as it remained confident in opportunities presented by Bitcoin and the beginning of a bull market, as it closed the quarter.</p>\n<p>With an average upside potential of 41.64%, Canaan Inc. (NASDAQ:CAN) ranks as a top cryptocurrency stock. The firm is a leading provider of Bitcoin miners with a solid global presence.</p>\n<p>Overall CAN <strong>ranks 4th</strong> on our list of the best cryptocurrency stocks to buy according to Wall Street. While we acknowledge the potential of CAN as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than CAN but that trades at less than 5 times its earnings, check out our report about the <strong>cheapest AI stock</strong>.</p>   \n<p><strong>READ NEXT: </strong><strong>8 Best Wide Moat Stocks to Buy Now</strong><strong> and</strong><strong> </strong><strong>30 Most Important AI Stocks According to BlackRock</strong>.</p>   \n<p>Disclosure: None. This article is originally published at Insider Monkey.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Canaan Inc. (CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Canaan Inc. (CAN) the Best Cryptocurrency Stock to Buy According to Wall Street?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 09:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street. In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/SS0jPhqjAgIyDKZxgzSkUA--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/f58803c81a650565b8d935e10c33dc8f","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念",".IXIC":"NASDAQ Composite","QID":"纳指两倍做空ETF","PSQ":"纳指反向ETF","BK4588":"碎股","BK4526":"热门中概股","BK4595":"比特币概念","BK4170":"电脑硬件、储存设备及电脑周边","QLD":"纳指两倍做多ETF","CAN":"嘉楠科技","SQQQ":"纳指三倍做空ETF","TQQQ":"纳指三倍做多ETF"},"source_url":"https://finance.yahoo.com/news/canaan-inc-best-cryptocurrency-stock-012623859.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2483090488","content_text":"We recently compiled a list of the 12 Best Cryptocurrency Stocks to Buy According to Wall Street. In this article, we are going to take a look at where Canaan Inc. (NASDAQ:CAN) stands against the other cryptocurrency stocks.\nHow’s the US Crypto Market Unfolding Post-Election?\nPost Donald Trump’s victory in the US presidential elections, the price of bitcoin rose above $80,000 for the first time ever. Other cryptocurrencies such as dogecoin which is the favorite coin of Elon Musk, a strong Trump supporter, are also posting gains, as reported by BBC. On November 12, Bitcoin neared a record $90,000.\nWhile Trump has revealed his plans to make America the crypto capital of the world, he has stated that he would be sacking the current chair of the Securities and Exchange Commission, Gary Gensler, who has led the SEC's crackdown on the crypto market. Gensler tried to regulate the market which he believed, was at least partially made up of securities trading illegally. Market analyst at StoneX Financial, Matt Simpson, emphasized that bitcoin prices could go as high as $100,000 in case the Trump administration deregulates crypto.\nAlthough Trump was once railing against cryptocurrencies, he later embraced crypto as he started a new crypto business called World Liberty Financial in September. While commenting on the crypto industry, he said “It’s very young and very growing” and that he believes in it. He has also expressed support for domestic Bitcoin miners saying that if crypto is going to define the future, he wants it to be mined, minted, and made in the US.\nMarket Anticipation: Is Crypto in a Golden Era?\nBitcoin has surged more than 26% since election day on November 5. As reported by CNBC, Mike Colonnese, an analyst at H.C. Wainwright, stated:\n\n“Bitcoin is now in price discovery mode after breaking through all-time highs early last Wednesday morning when it was officially declared that Trump won the election. Strong positive sentiment is likely to persist through the balance of 2024 and [we] see bitcoin prices potentially reaching the six-figure mark by the end of this year.”\n\nAs the crypto market anticipates a positive and bright regulatory climate under the Trump administration, crypto-focused stocks also surged post-election. Vice President and General Manager of Robinhood, Johann Kerbrat, appeared on CNBC and referred to the post-election scenario as a big moment for the firm on the crypto side considering bitcoin was not even a fraction of its current price two years ago. The firm saw a lot of activity on the crypto volume. While the company has faced scrutiny from the SEC under the Biden administration, Kerbrat is hopeful to see more crypto-friendly policymaking.\nBitwise’s Matt Hougan seconded this stance when he appeared on CNBC Crypto World on November 12. In his opinion, Trump’s economic policies should be positive for crypto. He referred to the prevailing market as a golden age of crypto and that it’s right to be bullish. While he thinks that crypto has been fighting with one hand tied behind its back during the past four years and has faced a lot of regulatory unclarity, the scenario has shifted 180 degrees with a positive regulatory environment to look forward to. Finally, Hougan calls the market a win-win post-election. Regarding the future outlook for Bitcoin, he states that there is a clear path right up to $100,000 by 2024’s end while $200,000 is completely reasonable for 2025, considering that the trend is up and is going to stay intact for a while.\nOur Methodology:\nIn order to compile a list of the 12 best cryptocurrency stocks to buy according to Wall Street, we first utilized stock screeners, ETFs, and online rankings to make an extended list of the major crypto companies. Moving on, we shortlisted the top 12 stocks from our list which had the highest upside potential, as of November 12. The 12 best cryptocurrency stocks to buy according to Wall Street have been arranged in ascending order of their average upside potential.\nAt Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A close up view of a final mining equipment used in bitcoin mining. \nCanaan Inc. (NASDAQ:CAN)\nAverage Upside Potential: 41.64%\nCanaan Inc. (NASDAQ:CAN) is the world’s leading manufacturer of Bitcoin miners. The firm created the world’s first ASIC Bitcoin miner and is also the first mining machine manufacturer to be listed on the Nasdaq. The firm remains dedicated to developing and selling Bitcoin mining machines and related services. While Canaan has headquarters in Singapore, it operates offices in China, North America, and Central Asia.\nCanaan is a global company with its machines sold in 21 countries and regions around the world. The firm supports Bitcoin mining for major public companies including Cipher Mining, Marathon, Digital Holdings, and Stronghold Digital Mining. These firms have deemed Canaan machines as the top-performing rigs in their fleet as well as one of the miners (A1346) offering an attractive value proposition with remarkable hash rate, energy efficiency, and competitive pricing.\nFor 2024’s second quarter, Canaan Inc. (NASDAQ:CAN) posted revenues of $71.9 million, exceeding the previous guidance of $70 million, and rose 104.8% sequentially. The top-line performance was despite the Bitcoin halving event, primarily driven by the concentrated delivery of  A14 products accounting for the largest share of the firm’s revenue. The new A1566 product has also gotten active customer orders since its launch. The firm saw itself on a trajectory of renewed growth as it remained confident in opportunities presented by Bitcoin and the beginning of a bull market, as it closed the quarter.\nWith an average upside potential of 41.64%, Canaan Inc. (NASDAQ:CAN) ranks as a top cryptocurrency stock. The firm is a leading provider of Bitcoin miners with a solid global presence.\nOverall CAN ranks 4th on our list of the best cryptocurrency stocks to buy according to Wall Street. While we acknowledge the potential of CAN as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than CAN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.   \nDisclosure: None. This article is originally published at Insider Monkey.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":1,"commentSize":2,"repostSize":3,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}