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.
Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) traded down about 1 percent (or $7.20 per share) in Tuesday’s after-hours session, after Wedbush downgraded the stock from Neutral to Underperform, trimming their 12-month price target from $800 to $700.
According to analysts James Dix and Aria Ertefaie, the main concern is the relatively prompt arrival of the “Four Horsemen of the Search Apocalypse… self-identified consumers, consumer control of IP-delivered ads, payments innovation, and attention markets.”
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Other sources of apprehension include Google’s recent mobile search ad changes, which have the effect of pushing traffic toward paid (better monetized) searches. This could be a detriment to organic searches, which have been declining dramatically.
While this may sound good at first, it can result in a disequilibrium in the monetization of these users, “as advertisers balance search ad cost shocks against ROI—and a smaller search moat vs. competitors.”
The analysts pointed out there are plenty of candidates interested in investing in paid attention, including the highly popular ad blockers and payment platforms that would pay users to view ads.
Shares of GOOGL traded recently at $804 after closing the regular session at $810.73.
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.