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Bitcoin rally continues and pushes a number of stocks to rise


Júl, 20 2022
watermark Economic news

Yesterday's sharp rally of bitcoin continues today. The current BTC quote is $23982, although recently a local minimum was recorded in the region of $ 20 thousand. The growth of the most popular cryptocurrency has had a bullish effect on some stocks related to the digital currency market. 


The most impressive growth was demonstrated by the shares of Applied Blockchain Inc. – securities rose by 100% during yesterday's afternoon session and are expected to continue their growth today. On the premarket, the shares rose by almost 13%. 


Additional support for the securities of the cryptomining hosting provider was provided by the announcement of a partnership with Marathon Digital. Thanks to this collaboration, Applied, which went public only last year, also signed a new 5-year agreement to allocate about 200 megawatts (MW) to Marathon, one of the largest bitcoin mining companies. 


On this news, the shares of Marathon Digital Holdings Inc jumped by 32.17% during yesterday's session and are currently up more than 4% in the premarket.



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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.