• Wall Street analysts have predicted a significant rally for CAN, Canaan’s crypto-related stock.
• The analysts believe the return of BTC momentum will trigger accelerated demand for Canaan’s mining chips.
• According to the analysts, Canaan’s recent partnerships will also support demand for its stock.

Wall Street analysts have predicted a significant rally for CAN, the cryptocurrency-related stock of Canaan, a China-based Bitcoin mining equipment manufacturer. The analysts have indicated a “Strong Buy” signal for CAN despite the stock’s narrow following on Wall Street.

The analysts’ prediction follows Bitcoin’s momentum regain and climbing above $60,000, suggesting an accelerated crypto adoption. In addition to the increasing crypto adoption, recent partnership expansions by Canaan also led Wall Street analysts to predict an upside potential for the stock.

Bitcoin surged past the significant $60,000 price level last week following a 5-day consecutive bullish run. TradingView data shows BTC reached $64,000 for the first time since November 2021. Despite this move, CAN shares have lagged – currently trading below $2 per share, down 30% YTD, accordi…

The post Wall Street Analysts Predict Over 100% Rally For CAN Crypto-Related Stock appeared first on Coin Edition.

• Wall Street analysts have predicted a significant rally for CAN, Canaan’s crypto-related stock.
• The analysts believe the return of BTC momentum will trigger accelerated demand for Canaan’s mining chips.
• According to the analysts, Canaan’s recent partnerships will also support demand for its stock.

Wall Street analysts have predicted a significant rally for CAN, the cryptocurrency-related stock of Canaan, a China-based Bitcoin mining equipment manufacturer. The analysts have indicated a “Strong Buy” signal for CAN despite the stock’s narrow following on Wall Street.

The analysts’ prediction follows Bitcoin’s momentum regain and climbing above $60,000, suggesting an accelerated crypto adoption. In addition to the increasing crypto adoption, recent partnership expansions by Canaan also led Wall Street analysts to predict an upside potential for the stock.

Bitcoin surged past the significant $60,000 price level last week following a 5-day consecutive bullish run. TradingView data shows BTC reached $64,000 for the first time since November 2021. Despite this move, CAN shares have lagged – currently trading below $2 per share, down 30% YTD, accordi…

The post Wall Street Analysts Predict Over 100% Rally For CAN Crypto-Related Stock appeared first on Coin Edition.