Dernières nouvelles pour Banco De Chile (NYSE:BCH) Stock

Banco De Chile

Operating under three separate brand names (Banco de Chile, Banco Edwards-Citi, and Banco CrediChile) Banco de Chile is the second largest in the country by loans and third largest by deposits. Banco de Chile generates most of its net interest income (roughly 60% of total revenue) from its mortgage, unsecured consumer credit lines, and commercial loans, with 25% of its outstanding loans being made to firms with more than 10,000 million CLP in revenue. Outside of its banking business, Banco de Chile is the largest asset manager in the country and one of the largest security brokerages, supporting its substantial fee-based revenue.

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Shares of banking companies are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) reported quarterly earnings of $0.59 per share which missed the analyst consensus estimate of $0.74 by 20.27 percent. This is a 32.18 percent decrease over earnings of $0.87 per share from the same period last year. The company reported quarterly sales of $782.40 million which missed the analyst consensus estimate of $827.36 million by 5.43 percent. This is a 20.80 percent decrease over sales of $987.90 million the same period last year.

Earnings

Earnings Misses

News

Banco De Chile Q4 EPS $0.59 Misses $0.74 Estimate, Sales $782.40M Miss $827.36M Estimate

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Earnings Scheduled For February 12, 2025

<h3>Companies Reporting Before The Bell</h3>
• Novartis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) is estimated to report quarterly earnings at $1.79 per share on revenue of $12.77 billion. 
• Zapp Electric Vehicles (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) is projected to report earnings for its Fiscal Year 2024. 
• Dorian LPG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPG#NYSE">LPG</a>) is estimated to report quarterly earnings at $0.70 per share on revenue of $89.89 million. 
• Piper Sandler (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PIPR#NYSE">PIPR</a>) is projected to report quarterly earnings at $3.96 per share on revenue of $452.49 million. 
• WisdomTree (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WT#NYSE">WT</a>) is projected to report quarterly earnings at $0.18 per share on revenue of $111.06 million. 
• RBC Bearings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) is estimated to report quarterly earnings at $2.20 per share on revenue of $394.43 million. 
• OneMain Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMF#NYSE">OMF</a>) is projected to report quarterly earnings at $1.15 per share on revenue of $1.20 billion. 
• W.W. Grainger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) is likely to report quarterly earnings at $9.74 per share on revenue of $4.24 billion. 
• Virtus Inv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRTS#NYSE">VRTS</a>) is likely to report quarterly earnings at $7.66 per share on revenue of $214.69 million. 
• Eaton Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>) is expected to report quarterly earnings at $2.82 per share on revenue of $6.36 billion. 
• Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) is likely to report quarterly earnings at $2.02 per share on revenue of $13.18 billion. 
• First Hawaiian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NASDAQ">FHB</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $203.83 million. 
• Broadridge Financial Soln (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BR#NYSE">BR</a>) is estimated to report quarterly earnings at $1.35 per share on revenue of $1.57 billion. 
• Vestis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTS#NYSE">VSTS</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $688.89 million. 
• Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is expected to report quarterly earnings at $1.79 per share on revenue of $88.23 billion. 
• Revvity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) is expected to report quarterly earnings at $1.38 per share on revenue of $730.10 million. 
• Janus Henderson Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHG#NYSE">JHG</a>) is projected to report quarterly earnings at $0.97 per share on revenue of $683.02 million. 
• Church &amp; Dwight Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHD#NYSE">CHD</a>) is estimated to report quarterly earnings at $0.76 per share on revenue of $1.57 billion. 
• Aon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) is estimated to report quarterly earnings at $4.26 per share on revenue of $4.21 billion. 
• Badger Meter (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>) is expected to report quarterly earnings at $1.07 per share on revenue of $201.60 million. 
• Franklin Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) is likely to report quarterly earnings at $0.56 per share on revenue of $2.73 billion. 
• Autoliv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>) is expected to report quarterly earnings at $2.85 per share on revenue of $2.73 billion. 
• LyondellBasell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $9.49 billion. 
• Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) is likely to report quarterly earnings at $0.94 per share on revenue of $35.07 billion. 
• Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) is expected to report quarterly earnings at $2.40 per share on revenue of $48.68 billion. 
• Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) is estimated to report quarterly earnings at $9.18 per share on revenue of $13.89 billion. 
• Brookfield Business (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBUC#NYSE">BBUC</a>) is likely to report earnings for its fourth quarter. 
• Brookfield Bus Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBU#NYSE">BBU</a>) is estimated to report earnings for its fourth quarter. 
• Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEPC#NYSE">BEPC</a>) is likely to report quarterly loss at $0.36 per share on revenue of $2.01 billion. 
• Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) is expected to report quarterly loss at $0.35 per share on revenue of $1.53 billion. 
• ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) is estimated to report quarterly earnings at $1.12 per share on revenue of $1.01 billion. 
• Gentex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTX#NASDAQ">GNTX</a>) is likely to report quarterly earnings at $0.48 per share on revenue of $598.58 million. 
• AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) is estimated to report quarterly earnings at $2.98 per share on revenue of $14.81 billion. 
• Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) is projected to report quarterly earnings at $0.53 per share on revenue of $804.00 billion. 
• Booz Allen Hamilton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) is expected to report quarterly earnings at $1.51 per share on revenue of $2.86 billion. 
• Colgate-Palmolive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) is likely to report quarterly earnings at $0.90 per share on revenue of $5.05 billion. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For January 31, 2025

JP Morgan analyst Domingos Falavina maintains Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) with a Neutral and raises the price target from $21 to $23.

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Banco De Chile, Raises Price Target to $23

Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) reported quarterly earnings of $0.64 per share which missed the analyst consensus estimate of $0.69 by 7.25 percent. The company reported quarterly sales of $802.900 million which beat the analyst consensus estimate of $796.394 million by 0.82 percent. This is a 4.78 percent increase over sales of $766.300 million the same period last year.

Earnings Beats

Banco De Chile Q3 2024 GAAP EPS $0.64 Misses $0.69 Estimate, Sales $802.900M Beat $796.394M Estimate

Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-10-29. Here's what investors need to know before the announcement.
Analysts estimate that Banco De Chile will report an earnings per share (EPS) of $0.63. 
Anticipation surrounds Banco De Chile's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings Track Record</h3>
Last quarter the company beat EPS by $0.03, which was followed by a 1.61% increase in the share price the next day.
Here's a look at Banco De Chile's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.65</td>
<td>0.58</td>
<td>0.71</td>
<td>0.67</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.68</td>
<td>0.66</td>
<td>0.87</td>
<td>0.58</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730124108_0.png" alt="eps graph" />
<h3>Market Performance of Banco De Chile's Stock</h3>
Shares of Banco De Chile were trading at $24.49 as of October 25. Over the last 52-week period, shares are up 20.51%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/BCH/earnings">To track all earnings releases for Banco De Chile visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: Banco De Chile's Earnings Preview

After a rocky start to the month that led to a global market rout, two major inflation data seemed to have steadied the ship as the broader equity markets inched closer to all-time highs reached in mid-July. While the producer price index (a measure of wholesale prices) was up 0.1% last month, the consumer price index (a broad-based measure of prices for goods and services) increased 0.2%. This put the 12-month inflation rate at 2.9% &mdash; the lowest since March 2021.
While the data gave an uncertain market some direction after the erratic movement last week, it also portrayed the resilience of the economy. This, in turn, led to optimism about a possible rate cut by the Federal Reserve next month, triggering an uptrend for the stocks. With a better-than-expected 2.8% annualized GDP growth in the second quarter and solid labor market conditions, it appeared that the economy was back on the growth track, cooling recessionary fears.
As investors employ a wait-and-see approach in a classic example of &quot;backing and filling&quot; in the market, they can benefit from &quot;cash cow&quot; stocks that garner higher returns. However, identifying cash-rich stocks alone does not make for a solid investment proposition unless it is backed by attractive efficiency ratios like return on equity (ROE). A high ROE ensures that the company is reinvesting cash at a high rate of return. Upbound Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upbd#NASDAQ">UPBD</a>), The AES Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aes#NYSE">AES</a>), Arch Capital Group Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acgl#NASDAQ">ACGL</a>), PulteGroup, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>) and Banco de Chile (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bch#NYSE">BCH</a>) are some of the stocks with high ROE to profit from.
<h3>ROE: A Key Metric</h3>
ROE = Net Income/Shareholders&#39; Equity
ROE helps investors distinguish profit-generating companies from profit burners and is useful in determining the financial health of a company. In other words, this financial metric enables investors to identify companies that diligently deploy cash for higher returns.
Moreover, ROE is often used to compare the profitability of a company with other firms in the industry &mdash; the higher, the better. It measures how well a company is multiplying its profits without investing new equity capital and portrays management&#39;s efficiency in rewarding shareholders with attractive risk-adjusted returns.
<h3>Screening Parameters</h3>
In order to shortlist stocks that are cash-rich with high ROE, we have added Cash Flow greater than $1 billion and ROE greater than X-Industry as our primary screening parameters. In addition, we have taken a few other criteria into consideration to arrive at a winning strategy.
Price/Cash Flow lesser than X-Industry: This metric measures how much investors pay for $1 of free cash flow. A lower ratio indicates that investors need to pay less for a better cash flow-generating stock.
Return on Assets (ROA) greater than X-Industry: This metric determines how much profit a company earns for every dollar of asset, which includes cash, accounts receivable, property, equipment, inventory and furniture. The higher the ROA, the better it is for the company.
5-Year EPS Historical Growth greater than X-Industry: This criterion indicates that continued earnings momentum has translated into solid cash strength.
Zacks Rank less than or equal to 2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.
Here are five of the 11 stocks that qualified the screening:
Upbound Group: Headquartered in Plano, TX, Upbound Group (formerly Rent-A-Center, Inc.) is a leading lease-to-own provider with operations in the United States, Puerto Rico and Mexico. The company provides services to a large portion of consumers by providing them access and the opportunity to obtain ownership of high-quality, durable products under a flexible lease purchase agreement with no long-term debt obligation.
The company delivered a trailing four-quarter earnings surprise of 3.8%, on average. It has a VGM Score of B. Upbound Group carries a Zacks Rank #2.
AES: Arlington, VA-based AES is a global power company. Its businesses are spread across four continents in 14 countries. The company has four Strategic Business Units located in the United States and other regions across the globe. AES remains one of the forerunners in the utility industry&#39;s transition to clean energy by investing in sustainable growth and innovative solutions while delivering superior results.
It delivered a trailing four-quarter earnings surprise of 19.2%, on average. AES carries a Zacks Rank #2.
Arch Capital: Headquartered in Pembroke, Bermuda, Arch Capital offers insurance, reinsurance and mortgage insurance across the world. It provides a wide range of products and services, which include primary and excess casualty coverages, professional indemnity, workers&#39; compensation and umbrella liability and employers&#39; liability insurance coverages. The company offers a full range of property, casualty and mortgage insurance and reinsurance lines while maintaining a focus on writing specialty lines of insurance and reinsurance.
It has a long-term earnings growth expectation of 6.1%. It delivered a trailing four-quarter earnings surprise of 28.9%, on average. It has a VGM Score of B. Arch Capital carries a Zacks Rank #2.
PulteGroup: Based in Atlanta, GA, PulteGroup engages in homebuilding and financial services businesses, primarily in the United States. The company conducts operations through two primary business segments &ndash; Homebuilding and Financial Services. The company engages in maintaining a 50/50 balance between build-to-order and spec sales, enabling it to meet immediate demand with spec homes while also accommodating buyers who prefer to customize their homes with build-to-order options.
The company has a long-term earnings growth expectation of 19% and delivered a trailing four-quarter earnings surprise of 10%, on average. It has a VGM Score of B. PulteGroup carries a Zacks Rank #2.&nbsp;
Banco de Chile: Headquartered in Santiago, Chile, Banco de Chile provides various banking services to customers in the Latin American country. These include deposit accounts, loans, payment-related cards and insurance solutions. The company also offers services such as cash management, treasury, financial advisory, trade finance, leasing, factoring, payment, payroll, collection, mutual fund management, securities brokerage, currency trading, investment management, collection, securitization and capital markets services.
It delivered a trailing four-quarter earnings surprise of 6.1%, on average. Banco de Chile carries a Zacks Rank #2.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.&nbsp;
<a href="https://www.zacks.com/stock/news/2322873/buy-5-high-roe-stocks-as-low-inflation-data-steadies-market?cid=CS-BENZ-FT-analyst_blog|rw-2322873">To read this article on Zacks.com click here.</a>

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Buy 5 High ROE Stocks as Low Inflation Data Steadies Market

The broader U.S. equity markets witnessed a modest uptrend over the past few trading days, buoyed by optimism related to rate cuts driven by easing inflationary pressures and solid economic metrics that portrayed the resilience of the economy. In addition, a relatively healthy earnings performance from hitherto reported companies ignited hopes of a possible rate cut as early as September.
The markets now await the Federal Reserve&#39;s update on the monetary policy as it wraps up its policy meeting later today. Although the Fed is widely expected to keep the benchmark funds rate steady in the 5.25% to 5.5% range, investors are seeking cues for probable cuts in the near future. With a better-than-expected 2.8% annualized GDP growth in the second quarter and a robust labor market scenario, the conditions appear primed to heed the broader sentiments.
As investors employ a wait-and-see approach in a classic example of &quot;backing and filling&quot; in the market, they can benefit from &quot;cash cow&quot; stocks that garner higher returns. However, identifying cash-rich stocks alone does not make for a solid investment proposition unless it is backed by attractive efficiency ratios like return on equity (ROE). A high ROE ensures that the company is reinvesting cash at a high rate of return. Best Buy Co., Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bby#NYSE">BBY</a>), The AES Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aes#NYSE">AES</a>), Lockheed Martin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>), PulteGroup, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>) and Banco de Chile (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bch#NYSE">BCH</a>) are some of the stocks with high ROE to profit from.
<h3>Why ROE?</h3>
ROE = Net Income/Shareholders&#39; Equity
ROE helps investors distinguish profit-generating companies from profit burners and is useful in determining the financial health of a company. In other words, this financial metric enables investors to identify companies that diligently deploy cash for higher returns.
Moreover, ROE is often used to compare the profitability of a company with other firms in the industry &mdash; the higher, the better. It measures how well a company is multiplying its profits without investing new equity capital and portrays management&#39;s efficiency in rewarding shareholders with attractive risk-adjusted returns.
<h3>Parameters Used for Screening</h3>
In order to shortlist stocks that are cash-rich with high ROE, we have added Cash Flow greater than $1 billion and ROE greater than X-Industry as our primary screening parameters. In addition, we have taken a few other criteria into consideration to arrive at a winning strategy.
Price/Cash Flow lesser than X-Industry: This metric measures how much investors pay for $1 of free cash flow. A lower ratio indicates that investors need to pay less for a better cash flow-generating stock.
Return on Assets (ROA) greater than X-Industry: This metric determines how much profit a company earns for every dollar of asset, which includes cash, accounts receivable, property, equipment, inventory and furniture. The higher the ROA, the better it is for the company.
5-Year EPS Historical Growth greater than X-Industry: This criterion indicates that continued earnings momentum has translated into solid cash strength.
Zacks Rank less than or equal to 2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.
Here are five of the 14 stocks that qualified the screening:
Best Buy: Headquartered in Richfield, MN, Best Buy is a multinational specialty retailer of consumer electronics, home office products, entertainment software, communication, food preparation, wellness, health, security, appliances and related services. The company retails technology products in the United States and Canada.
It has a long-term earnings growth expectation of 5.1% and delivered a trailing four-quarter earnings surprise of 11%, on average. It has a VGM Score of B. Best Buy carries a Zacks Rank #2.
AES: Arlington, VA-based AES is a global power company. Its businesses are spread across four continents in 14 countries. The company has four Strategic Business Units located in the United States and other regions across the globe. AES remains one of the forerunners in the utility industry&#39;s transition to clean energy by investing in sustainable growth and innovative solutions while delivering superior results.
It delivered a trailing four-quarter earnings surprise of 13.8%, on average. AES carries a Zacks Rank #2. It has a VGM Score of A.
Lockheed Martin: Based in Bethesda, MD, Lockheed Martin is the largest defense contractor in the world. Its main areas of focus are defense, space, intelligence, homeland security and information technology, including cyber security. Lockheed Martin currently operates through four businesses &mdash; Aeronautics, Missiles and Fire Control, Rotary and Missions Systems and Space Systems.
The company has a long-term earnings growth expectation of 4.2% and delivered a trailing four-quarter earnings surprise of 7.5%, on average. Lockheed Martin carries a Zacks Rank #2.
PulteGroup: Based in Atlanta, GA, PulteGroup engages in homebuilding and financial services businesses, primarily in the United States. The company conducts operations through two primary business segments &ndash; Homebuilding and Financial Services. The company engages in maintaining a 50/50 balance between build-to-order and spec sales, enabling it to meet immediate demand with spec homes while also accommodating buyers who prefer to customize their homes with build-to-order options.
The company has a long-term earnings growth expectation of 19% and delivered a trailing four-quarter earnings surprise of 10%, on average. It has a VGM Score of B. PulteGroup carries a Zacks Rank #2.
Banco de Chile: Headquartered in Santiago, Chile, Banco de Chile provides various banking services to customers in the Latin American country. These include deposit accounts, loans, payment-related cards and insurance solutions. The company also offers services such as cash management, treasury, financial advisory, trade finance, leasing, factoring, payment, payroll, collection, mutual fund management, securities brokerage, currency trading, investment management, collection, securitization and capital markets services.
It delivered a trailing four-quarter earnings surprise of 7.1%, on average. Banco de Chile carries a Zacks Rank #2. 
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
<a href="https://www.zacks.com/stock/news/2312735/5-high-roe-stocks-to-bet-on-as-markets-seek-rate-cut-clarity?cid=CS-BENZ-FT-analyst_blog|rw-2312735">To read this article on Zacks.com click here.</a>

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5 High ROE Stocks to Bet on as Markets Seek Rate Cut Clarity

Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) reported quarterly earnings of $0.68 per share which missed the analyst consensus estimate of $0.74 by 8.11 percent. This is a 17.07 percent decrease over earnings of $0.82 per share from the same period last year. The company reported quarterly sales of $818.000 million which beat the analyst consensus estimate of $799.386 million by 2.33 percent. This is a 12.43 percent decrease over sales of $934.100 million the same period last year.

Banco De Chile Q2 2024 GAAP EPS $0.68 Misses $0.74 Estimate, Sales $818.000M Beat $799.386M Estimate

Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.57 by 15.79 percent. This is unchanged from the same period last year. The company reported quarterly sales of $794.500 million which missed the analyst consensus estimate of $849.822 million by 6.51 percent. This is a 10.24 percent decrease over sales of $885.100 million the same period last year.

Banco De Chile Q1 2024 GAAP EPS $0.66 Beats $0.57 Estimate, Sales $794.500M Miss $849.822M Estimate

JP Morgan analyst Domingos Falavina maintains Banco De Chile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCH#NYSE">BCH</a>) with a Neutral and raises the price target from $20 to $21.

JP Morgan Maintains Neutral on Banco De Chile, Raises Price Target to $21

Investors who have put money into major U.S. indices have enjoyed respectable returns since the bottom of the market in March 2020.
In fact, the SPDR S&amp;P 500 ETF, Invesco QQQ Trust Series 1 and SPDR Dow Jones Industrial Average ETF Trust have returned 127%, 159% and 102%, respectively, since then.
As good as investors in the major U.S. indices have had it since 2020, a number of cryptocurrencies have performed that much better. Crypto bulls who bought when U.S. markets bottomed out in March&nbsp;2020 and held on for the long term, despite the ongoing volatility, have been treated to epic returns on their investments.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38173636/exclusive-marathon-riot-hut8-ceos-tell-benzinga-how-bitcoin-halving-will-impact-miners">EXCLUSIVE: Marathon, Riot, Hut8 CEOs Tell Benzinga How Bitcoin Halving Will Impact Miners</a>
Winners Since March 2020: Here's how much $100 in each of the following cryptocurrencies and stocks back at the bottom of the U.S. market in March 2020 would be worth today:
<ul>
<li>Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>): $354</li>
<li>Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>): $715</li>
<li>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>): $10,965</li>
</ul>
<h2 class="wp-block-heading">Why This Matters</h2>
Investors keen on maximizing returns and diversifying their portfolios must acknowledge the emergence of cryptocurrencies as a viable asset class offering substantial growth opportunities. The staggering returns exhibited by cryptocurrencies such as Bitcoin Cash, Ethereum Classic and Dogecoin highlight the potential for outsized gains in this rapidly evolving market.
Whether one chooses to allocate funds to established indices or explore the potential of cryptocurrencies, staying abreast of market trends and assessing risk factors are essential for making informed investment decisions in an ever-changing financial landscape.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38162989/hold-on-to-your-dogecoin-itll-be-the-first-meme-coin-to-reach-100b-market-cap-says-trader">Hold On To Your Dogecoin: It&#8217;ll Be The &#8216;First Meme Coin To Reach $100B Market Cap,&#8217; Says Trader</a>

$BCH

$DOGE

$ETC

If You Invested $100 In Bitcoin Cash, Ethereum Classic And Dogecoin In March 2020, Here's How Much You'd Have Now

Major cryptocurrency surged on Thursday evening, despite hawkish <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38099441/hawkish-fed-voices-lead-to-market-slide-its-possible-fed-wont-cut-this-year-if-inflati">comments </a>from Minneapolis Fed President Neel Kashkari.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 12:00 a.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+3.39%</td>
<td>$67,836</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>+0.57%</td>
<td>$3,298</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+1.42%</td>
<td>$0.17</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin, which dropped to as low as $65,000 overnight, surged during much of the U.S. day, reaching a high point of over $69,000 at one stage.
&#8220;If we continue to see inflation moving sideways, then that would make me question whether we [need] to do those rate cuts at all,&#8221; said Kashkari during a virtual event on LinkedIn.
Given that Kashkari has been one of the more hawkish members of the Fed, his comments shouldn&#8217;t have come as a complete surprise, but they prompted a swift downturn in stocks. Furthermore, his remarks contradicted statements from Fed Chairman Jerome Powell, who expressed his ongoing anticipation of rate cuts at some point this year.
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 12:00 a.m. EDT)</td>
</tr>
<tr>
<td>Pendle (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PENDLE</a>)</td>
<td>+26.85%</td>
<td>$6.25</td>
</tr>
<tr>
<td>Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>)</td>
<td>+13.77%</td>
<td>$694&nbsp;&nbsp;</td>
</tr>
<tr>
<td>eCash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">XEC</a>)</td>
<td>+10.89%</td>
<td>$0.0000688</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap now stands at $2.53 trillion, showing a 2.28%&nbsp; increase in the past 24 hours.
Stocks took a hit on Thursday amidst volatile trading, with concerns over the upcoming March jobs report. The Dow Jones Industrial Average concluded the day with a loss of 530.16 points, or 1.35%, settling at 38,596.98. This marked the index&#8217;s most substantial decline since March 2023, extending its streak of consecutive losses to four days. The S&amp;P 500 also saw a 1.23% drop, closing at 5,147.21, while the Nasdaq Composite experienced a 1.40% dip to end at 16,049.08.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst Michael Van de Poppe suggests that Bitcoin has been trading within a range for over three weeks.
"Breaking through $69K and we&#8217;ll get an ATH test, but ultimately the volatility is going down and we&#8217;re likely rotating towards altcoins."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> still acting in a range for more than three weeks. Breaking through $69K and we&#39;ll get an ATH test, but ultimately the volatility is going down and we&#39;re likely rotating towards altcoins. <a href="https://t.co/rGRVWMJ0q9">pic.twitter.com/rGRVWMJ0q9</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1775943415018012843?ref_src=twsrc%5Etfw">April 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Pseudonymous analyst TechDev said Bitcoin could be preparing for a significant breakout, citing a combination of aligning indicators.
TechDev believes that the Wyckoff accumulation schematic points to a bullish trend for digital assets. The Wyckoff accumulation schematic indicates potential trend reversals from bearish to bullish in cryptocurrency markets, suggesting a period of accumulation before an upward price movement.
"This is usually the place where things go vertical."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is usually the place where things go vertical. <a href="https://t.co/lkDFRgYxsy">pic.twitter.com/lkDFRgYxsy</a>
&mdash; TechDev (@TechDev_52) <a href="https://twitter.com/TechDev_52/status/1774546429828042975?ref_src=twsrc%5Etfw">March 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to Rekt Capital, Bitcoin is currently going through a correction phase in anticipation of the upcoming halving, set to take place in a little over two weeks.
Rekt Capital <a href="https://www.youtube.com/watch?v=Szyf8LsmFwM">said </a>"So this pre-halving retrace began around 30 days before the halving and so we are in the thick of the danger zone…Because we're still in the danger zone anything can still go. This is still volatility that's supposed to get us closer to establishing a re-accumulation range at these highs. So any volatility around this danger zone [between $73,800 and mid $60,000s] is still all within historical norms."
The analyst also mentioned that it&#8217;s &#8220;very unlikely that we&#8217;re going to see a 40% pullback in this cycle for Bitcoin."
Photo by Igor Faun on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/31624379/jim-cramer-advises-against-using-binance-provokes-strong-reactions-from-twitter-users">Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Movers

$BTC

$ETH

$PENDLE

$XEC

Bitcoin, Ethereum, Dogecoin Surge Despite Hawkish Remarks From Fed President—Analysts Predict King Could Now Go Vertical With Several Critical Indicators In Alignment

Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>) is trading lower by 5.9% to $591.63 Wednesday, despite a lack of coin-specific news for the session. Shares of several altcoins are trading lower amid <a href="https://www.benzinga.com/topic/bitcoin">Bitcoin</a> falling some 6% over the trailing week.
Bitcoin is the leading cryptocurrency and often serves as a barometer for the entire cryptocurrency market. When Bitcoin's price falls, it often signals a bearish sentiment in the market, which can lead investors to sell off other cryptocurrencies, including Bitcoin Cash, out of fear or uncertainty.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38062216/bitcoin-ethereum-dogecoin-dip-amid-high-selling-pressure-analyst-says-king-crypto-will-not">Bitcoin, Ethereum, Dogecoin Dip Amid High Selling Pressure: Analyst Says King Crypto Will Not See Highs &#8216;Unless $69K Breaks&#8217;</a>
Additionally, most cryptocurrency exchanges also list Bitcoin as a trading pair for Bitcoin Cash. When the price of Bitcoin falls, it affects the value of the trading pair. Traders may sell Bitcoin Cash for Bitcoin to mitigate losses or to take advantage of potential gains if they anticipate Bitcoin's price will recover faster.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38071383/bitcoin-etfs-traded-111b-in-march-2-new-etfs-could-mean-the-action-gets-even-wilder">Bitcoin ETFs Traded $111B In March: 2 New ETFs Could Mean The Action Gets Even Wilder</a>

Why Bitcoin Cash Is Moving

Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>) is trading lower by 6.5% to $632.18 Monday morning, despite a lack of coin-specific news for the session. Shares of several altcoins are trading lower amid a drop in the price of <a href="https://www.benzinga.com/topic/bitcoin">Bitcoin</a>.
Bitcoin is the leading cryptocurrency and often serves as a barometer for the entire cryptocurrency market. When Bitcoin&#8217;s price falls, it often signals a bearish sentiment in the market, which can lead investors to sell off other cryptocurrencies, including Bitcoin Cash, out of fear or uncertainty.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/38015356/150-000-bitcoin-boom-expected-in-2024-says-hedge-fund-manager-bitcoin-is-the-king-it-is-th">$150,000 Bitcoin Boom Expected In 2024, Says Hedge Fund Manager: &#8216;Bitcoin Is The King, It Is The Dominant Token&#8217;</a>
Additionally, most cryptocurrency exchanges also list Bitcoin as a trading pair for Bitcoin Cash. When the price of Bitcoin falls, it affects the value of the trading pair. Traders may sell Bitcoin Cash for Bitcoin to mitigate losses or to take advantage of potential gains if they anticipate Bitcoin&#8217;s price will recover faster.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38023142/nvidia-leads-tesla-lags-among-magnificent-seven-stocks-q1-market-shake-up">Nvidia Leads, Tesla Lags Among Magnificent Seven Stocks: Q1 Market Shake-Up</a>

Why Bitcoin Cash Is Falling

Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>) is trading higher by 6.8% to $565.51 Thursday afternoon. Shares of several altcoins are rising during Thursday&#8217;s session amid strength in <a href="https://www.benzinga.com/quote/BTC-USD">Bitcoin</a> as the apex crypto trades past the $70,000-level.
Bitcoin has in large part rallied in recent weeks due to rising demand after spot bitcoin ETFs were approved in January. However, these ETFs saw significant outflows last week, leading to a sell-off in crypto-related stocks. The market then rebounded after the Federal Reserve made dovish remarks.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37968665/invest-in-altcoins-now-or-wait-what-experts-say-might-surprise-you">Invest In Altcoins Now Or Wait? What Experts Say Might Surprise You</a>
<h2 class="wp-block-heading">What's Going On With Crypto?</h2>
On March 27, Bitcoin spot ETFs saw a significant influx of $243 million in investments. This coincides with preparations for the Benzinga Future of Digital Assets conference on Nov. 19. BlackRock&#8217;s iShares Bitcoin Trust experienced a notable single-day inflow of $323 million, reflecting increasing confidence in Bitcoin. 
This follows BlackRock CEO Larry Fink&#8217;s positive outlook on Bitcoin, hinting at a changing attitude towards cryptocurrencies in traditional finance&#8230;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37983394/bitcoin-etfs-inflows-soar-ethereum-etf-race-heats-up-what-does-it-mean-for-investors">Read More</a>

Why Bitcoin Cash Is Popping Off

Major cryptocurrencies traded mixed on Wednesday evening as Bitcoin&#8217;s momentum slowed and it experienced a small price correction.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 12:00 a.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.94%</td>
<td>$69,229</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>-3.64%</td>
<td>$3,486</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+5.87%</td>
<td>$0.19</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Over $9.4 billion worth of Bitcoin options are scheduled to expire on the Deribit cryptocurrency exchange on March 29. This indicates a potential maximum pain price of $50,000, according to data shared by Unfolded in a March 27 X post.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This Friday 8 AM UTC, 134.9K <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> are set to expire on Deribit with a notional value of $9.42 billion. Max pain price $50,000, put/call ratio: 0.83 <a href="https://t.co/tST5X8nz6e">pic.twitter.com/tST5X8nz6e</a>
&mdash; unfolded. (@cryptounfolded) <a href="https://twitter.com/cryptounfolded/status/1772931664156795223?ref_src=twsrc%5Etfw">March 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The max pain price is the strike price with the most open Bitcoin options contracts (puts and calls). It represents the price at which the majority of option holders would experience financial losses at expiration.
Last week, after experiencing five days of consecutive negative outflows, spot Bitcoin ETFs witnessed a significant turnaround. On March 25, coinciding with Bitcoin&#8217;s highest daily close above $69,000 in the past 10 days, these ETFs observed a net flow of <a href="https://www.benzinga.com/24/03/37962782/spot-bitcoin-etf-net-inflows-surge-to-417m-but-why-did-price-not-move">over $15 million</a>. Furthermore, on March 26, the 10 Bitcoin ETFs collectively experienced a net inflow of $418 million.
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 12:00 a.m. EDT)</td>
</tr>
<tr>
<td>Mantle (CRYPTO: MNT)</td>
<td>+23.47</td>
<td>$1.17</td>
</tr>
<tr>
<td>Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>)</td>
<td>+8.24%</td>
<td>$534.34&nbsp;&nbsp;</td>
</tr>
<tr>
<td>Dogecoin(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+5.28%</td>
<td>$0.19</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap now stands at $2.66 trillion, showing a 0.32%&nbsp; decrease in the past 24 hours.
On Wednesday, stocks across all 11 sectors of the S&amp;P 500 saw gains, indicating a broad rally. The utilities sector took the lead with a significant jump of almost 2.8%. Following closely behind, real estate experienced a 2.4% advance, while industrials added 1.6%.
The S&amp;P 500 reached a record high as it heads toward its best first-quarter performance since 2019. The broader market index closed at 5,248.49, marking a gain of 0.86%. Additionally, the Dow Jones Industrial Average saw an advancement of 477.75 points, or 1.22%, ending at 39,760.08. Both indexes broke three-day losing streaks. The Nasdaq Composite also experienced an increase of 0.51%, closing at 16,399.52.
Later this week, investors will be keeping an eye on jobless claims, gross domestic product, and consumer sentiment data. Although the market is closed on Good Friday, the focus will be on economic releases related to personal income, consumer spending, and expected personal consumption expenditures in the morning.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst Michael Van de Poppe suggests that from a technical perspective, keeping an eye on Bitcoin at the $67,000 mark is crucial.
"If that holds, we&#8217;ll likely see another ATH test pre-halving."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Technically, my point of interest in holding on to <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> lies at $67K. If that holds, we&#39;ll likely see another ATH test pre-halving. <a href="https://t.co/i9bJuVqqso">pic.twitter.com/i9bJuVqqso</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1773079086174241231?ref_src=twsrc%5Etfw">March 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Van de Poppe believes that Bitcoin is about to see a significant increase, targeting a range of $75,000 to $80,000 leading up to the halving event. This forecast is based on Bitcoin&#8217;s current consolidation phase, suggesting a buildup towards testing its all-time high, with the potential for a subsequent correction.&nbsp;
"I think that we&#8217;re close to the peak of this run, but I think we&#8217;ll have another ATH test, perhaps even $75-80K pre-halving and then we&#8217;re correcting. During that consolidation/correction phase, I expect altcoins to outperform."
Ali Martinez, an on-chain analyst stated that the most significant resistance barrier ahead of Bitcoin is between $70,180 and $70,600, where 292,000 addresses 397,000 BTC. &#8220;If BTC can break past this barrier, it will likely march toward new all-time highs."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most significant resistance barrier ahead of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is between $70,180 and $70,600, where 292,000 addresses 397,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. If <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> can break past this barrier, it will likely march toward new all-time highs. <a href="https://t.co/f9gdq4h1Gy">pic.twitter.com/f9gdq4h1Gy</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1772972835981455845?ref_src=twsrc%5Etfw">March 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/31624379/jim-cramer-advises-against-using-binance-provokes-strong-reactions-from-twitter-users">Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users</a>
Photo via Shutterstock

Bitcoin, Ethereum Take A Breather While Dogecoin Spike Pushes Crypto Market Cap Above $2.6 Trillion — Analyst Sees BTC Hitting $80K Before Next Halving

Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>), Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>) and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) are all trading higher Monday afternoon. Shares of several altcoins are rising amid strength in <a href="https://www.benzinga.com/quote/BTC-USD">Bitcoin</a>.
Bitcoin has in large part rallied in recent weeks due to rising demand after spot bitcoin ETFs were approved in January. However, these ETFs saw significant outflows last week, leading to a sell-off in crypto-related stocks. The market then rebounded after the Federal Reserve made dovish remarks.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37918585/bitcoin-breaks-above-70k-again-expert-points-to-pattern-signaling-major-breakout">Bitcoin Breaks Above $70K Again: Expert Points To Pattern Signaling Major Breakout</a>
<h2 class="wp-block-heading">What&#8217;s Going On With Crypto?</h2>
Bitcoin is surging above $70,000 for the second time ever. This follows a recent all-time high, followed by a retreat to $60,000. Analyst Kevin Svenson noted a potential bullish signal, spotting an &#8220;inverse head and shoulders&#8221; pattern on the four-hour chart, indicating a reversal in momentum and heightened demand. 
With Bitcoin retesting a crucial resistance level and gaining support, Svenson predicts a continuation of the rally towards $76,000&#8230;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37918585/bitcoin-breaks-above-70k-again-expert-points-to-pattern-signaling-major-breakout">Read More</a>
<ul>
<li>BCH is trading higher by 4% to $502.12</li>
<li>ETC is trading higher by 3.7% to $32.59</li>
<li>LTC is trading higher by 1.9% to $91.58</li>
</ul>

$LTC

Why Bitcoin Cash, Ethereum Classic And Litecoin Are Rising

Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>) and Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>) are trading lower by 4.9% to $397.52 and 5% to $28.89 Friday afternoon. Shares of several altcoins are falling, pulling back following Thursday&#8217;s strength in Bitcoin as the apex crypto pulls back for the session.
Bitcoin is the largest and most well-known cryptocurrency. As such, its price movements often influence the overall sentiment in the cryptocurrency market.
When Bitcoin experiences a significant drop or rise, it can trigger similar movements in other cryptocurrencies like Bitcoin Cash and Ethereum due to investors&#8217; reactions to the broader market sentiment.
See Also: <a href="https://www.benzinga.com/markets/commodities/24/03/37894144/robert-kiyosaki-loves-bitcoin-but-he-also-loves-this-precious-metal-which-is-still-60-below-i">Robert Kiyosaki Loves Bitcoin But He Also Loves This Precious Metal, Which &#8216;Is Still 60% Below Its All Time High&#8217;</a>
Bitcoin, Bitcoin Cash and Ethereum also share some technical similarities as cryptocurrencies, including blockchain technology and consensus mechanisms.
Changes in the technical aspects of one cryptocurrency, such as upgrades or scalability issues, can impact market perceptions of other cryptocurrencies with similar technical features.
<h2 class="wp-block-heading">What's Going On With Crypto?</h2>
Bitcoin spot exchange-traded funds (ETFs) were observing a consistent pattern of net outflows spanning four consecutive days, totaling $93.85 million according to data from SoSoValue as of March 21. This indicates a cautious sentiment among investors. 
Specifically, the Grayscale Bitcoin Trust (GBTC) reported a significant single-day net outflow of $358 million, contributing to its historical net outflow surpassing $13.63 billion. This highlights an ongoing trend of capital withdrawal from the GBTC fund&#8230;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37888031/should-you-stay-or-should-you-go-bitcoin-spot-etfs-hemorrhaging-cash-on-4-consecutive-days">Read More</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37893510/bitcoin-altcoins-ready-for-massive-gains-according-to-analyst">Bitcoin, Altcoins Ready For Massive Gains, According To Analyst</a>

What's Going On With Bitcoin Cash And Ethereum Classic?

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