Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
This article originally appeared on EidoSearch.
"Guess what? The world changes. eBay has defined e-commerce."
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-Meg Whitman
Believe it or not, this month marks the 20th anniversary of eBay Inc (NASDAQ: EBAY) going live. While they may no longer be the darlings of the eCommerce world, investors are not complaining. The stock is up 479 percent since March of 2009 (about 75 percent annualized) and shares have proven to be resilient this year. The stock was up 20 percent before the recent market correction, and is still up 11 percent for the year and well ahead of the S&P 500 which is still down for the year. Is this a good time to buy?
85 Percent Probability eBay Will Be Above Its Current Price At Week's End
Since going public in 1998, eBay has traded in a statistically similar way over a 1 month period 28 times. In 85.7 percent of the instances (24 of 28 times), eBay is up in the next week an average of 3.5 percent. If you look at the returns in each similar historical instance relative to the S&P 500 in the next week, the average return is still 2.1 percent and the stock outperforms 75 percent of the time.
The table below shows the returns in the next week of all 28 instances on an absolute basis. The poorest performer on the tail is from the internet bubble of 2000.
Looking at the historical return distributions, there is 85 percdent probability eBay will be above the lower bound in the chart below, which is essentially at its current price.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.