Institutional Crypto Research Written by Experts
June 14, 2024 | Read Online | | Taking Profit on Bitcoin Miners: Bitfarms +25% in just two weeks Institutional Crypto Research Written by Experts |
| | | Does your crypto card offer no rewards? KAST's early adopter program gives 3-9% rewards on spending. 10X subscribers though, get up to a 3X multiplier taking rewards to 27%! | EXCLUSIVE OFFER: Join the waitlist & use campaign code "10X" https://kast.finance/ | When we see the code, we'll fast-track you to onboarding. Be quick—the early adopter program has limited spots, and phase 1 entry closes June 21st. | | | 👇1-12) In our strategy report, 'Bitcoin Mining Wars Are Heating Up—How to Play it?', we identified Bitfarms as the prime beneficiary of the ongoing consolidation within the Bitcoin mining industry. Since our report's publication date, Bitfarms shares have surged by +25%. Other favorites, like Bitdeer (+61%), have also seen significant gains—all within two weeks. | Bitcoin (purple) vs. Bitfarms (white) - the gap is closing. | | 👇2-12) We suggest caution. Bitcoin saw a slight decline of -1% during those two weeks and failed to break above the 71,946 resistance level. Although mining stocks, which are crucial takeover targets like Bitfarms, could rally further, we prefer exposure when there is a bullish underlying trend in Bitcoin. This is not currently the case, with the self-reinforcing Bitcoin mechanism generating less liquidity in February / March (see our webinar). | 👇3-12) Despite MicroStrategy announcing another potential $500m bond offering to buy more Bitcoins, the market reaction is relatively muted – contrary to Q4 2023 and Q1 2024, when those announcements caused a euphoric rise in retail speculation, a rising funding rate, and so on. |  | Subscribe to Premium Membership to read the rest. | Become a paying subscriber of Premium Membership to get access to this post and other subscriber-only content. | | A subscription gets you: | ✓ Receive concise, unrivalled informative crypto trading strategy reports (2-4x per week). | ✓ In just 10 paragraphs, unraveling the complexities and market structure of crypto and its dynamic landscape. | ✓ Insights into the intersection of crypto, regulations, macroeconomic trends, and policy shifts. | ✓ Apply to join subscriber ONLY Telegram Group. (Please read our Terms and Conditions and Disclaimer @ www.10xResearch.co)) |
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