Chart of Day: Marathon Digital (MARA)
Bitcoin is now above $51,600 and could easily see higher highs.
All thanks to BTC ETF inflows, fear of missing out (FOMO), and an upcoming halving event in April, which could push the price of BTC even higher.
In fact, As noted by DailyHodl.com, “Historical data suggests that Bitcoin’s price action tends to go through five stages based on its halving, an event when the issuance of new BTC to miners is cut in half. With the next halving slated for April, Rekt Capital believes that Bitcoin is now transitioning from its pre-halving retrace to its pre-halving rally.”
Plus, as noted by Investing.com, “Bitcoin’s best days are yet to happen as the ETF-driven market fuels fears of missing out (FOMO), Bernstein analysts said in a note. In this context, they believe BTC is well-placed to soar to new record highs.”
Not only is that great news for Bitcoin investors, it’s also great news for the BTC mining stocks like Marathon Digital (MARA). Even better, if BTC can hit $100,000 this year, as predicted, MARA could double, it not triple from its current prices.
Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies