There have been green candles everywhere since early 2023, as the share price of cryptocurrency exchange Coinbase has risen by 69% since hitting an all-time low, and other cryptocurrency-related companies such as analytics firm MicroStrategy, have enjoyed something similar. rises

On January 6, the price of a Coinbase share hit a low of $31.95, but by the time trading took place on January 17, it had risen again to as high as $54.14. After a difficult year in 2022, during which Coinbase reduced its staff by 20% and closed its activities in Japan, the rise in stock price is expected to be greeted with a huge sigh of relief from the leadership of the company. company.

Despite the recent rise, COIN is still trading at a price that is more than 84% lower than its all-time high. Other cryptocurrency-related companies, such as MicroStrategy and Block Inc., which is a digital payments startup, have also seen significant price increases since the beginning of the year.

MicroStrategy’s share price rose to nearly $236, up more than 74% from a low of just over $135 on December 29; this compares with the price of Jack Dorsey’s Block stock, which saw a modest but still respectable rise of 27%, after rallying from a low of less than $59 on December 28 to more than $75.

The recovery of crypto mining stocks has been much more spectacular. During the first two weeks of the new year, both Bitfarms and Marathon Digital Holdings saw their share price increase by a significant amount – 140% and 120%, respectively.

Exchange-traded funds (ETFs) have also returned, albeit to a lesser degree, with the price of the Valkyrie Bitcoin Miners ETF (WGMI) more than doubling from its low point of just over $4 on Dec. 28 to over $8. today.

The price of the ProShares Bitcoin Strategy ETF (BITO) has more than doubled since Dec. 28, when it was above $10, and is now around $13; this represents an increase of just under a third.

After trading at a discount of more than 45% on December 28, it now rests at a discount of just over 36% right now.

It is interesting to note that December 28 seemed to represent a market bottom for many different cryptocurrencies and stocks, even though some market analysts believe that Bitcoin in particular has skyrocketed due to positive US inflation numbers coming out of the US. They published on January 12. The Bitcoin price has risen more than 17% since those positive inflation numbers were released.