Bitcoin Mining Stocks See Substantial Drawdown Post December Crypto Selloff
Bitcoin faces resistance in low timeframes as it attempts to move up the $50,000 levels. After the weekend crash, the benchmark crypto has struggled to recover and seems to be lagging when compared to other cryptocurrencies. As a result of the crash, other Bitcoin-based investment products have taken a toll. According to Arcane Research and […]
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Bitcoin mining stocks really gained prominence in 2021. Due to the increase in the price of the digital asset, mining profitability shot up, and investors used this as a way to gain exposure to the market. As the market has retraced, though, the mining stocks have struggled. However, they continue to be in operation, and […]
The rally across top Bitcoin mining stocks could trap bulls as BTC price sentiment remains gloomy. Bitcoin (BTC) mining companies have suffered in 2022 due to the crypto bear market. Nonetheless, their stocks collectively saw a sharp rebound on July 6, raising hopes that investors have started to buy the dips.One of the intraday winners was Bitfarms (TSE: BITF), which surged by over 24% to close at $1.29. Similarly, Marathon Digital Asset Holdings (NASDAQ: MARA), Core Scientific (NASDAQ: CORZ), and Cathedra Bitcoin (CVE: CBIT) rose by over/around 12.5%, 16.22%, and 15%, respectively.MARA,....
Data shows following a period of struggle, Bitcoin mining stocks have once again started rising as the price of the crypto also rallies. Bitcoin Mining Stocks Go Up As Miner Revenues Observe Increase As per the latest weekly report from Arcane Research, the BTC miner revenues have seen a rise of 6% over the past […]
A quant has pointed out the similarities between the 2017 and 2021 Bitcoin cycles, something that could hint at how the rest of this bear market might play out. Both 2017 And 2021 Bitcoin Cycles Saw New Lows Around The 365-Day Mark Since The Top As explained by an analyst in a CryptoQuant post, the two cycles are more similar than one might expect them to be. The indicator of relevance here is the “drawdown from ATH,” which measures the percentage decrease in the price of Bitcoin following the all-time high during each cycle. Here is a chart that shows the trend in this metric....
Bitcoin mining stocks have not fared the best in recent times. Although they were one of the winners of 2021, their fall from grace had been even more rapid than their climb there in the first place. While the digital asset itself was recording losses such as 20%, mining stocks had taken it a step […]