$Marathon Digital Holdings Inc(MARA)$ plans to expand operations as bitcoin rebounds heading into 2024. MARA stock rallied nearly 180% during its impressive nine-week run stretching back to early October.
They have bought 2 mining sites to increase its efficiency. In this article, I would like to share with you my prediction for MARA price for the rest of 2023 trading day and the monthly prediction for Jan-Jun 2024.
Marathon Digital (MARA) Stock Price Prediction For 2023
MARA price would be expected to be having a minimum of $21.47 and maximum of $25.21 on 22 Dec (Friday), the predicted price for that day would be $23.34.
After the Christmas holiday, we are expecting to have a predicted price of $24.51, with a minimum of $22.55 and $26.47 for the maximum on Boxing Day (26 Dec). After that, on 27 Dec, we are going to see another upside with minimum of $23.15 and maximum of $27.17, the predicted close price would be $25.16.
We are seeing higher price on 28 Dec, expect the close price to close in at $26.42, with minimum of $24.31 and maximum of $28.53. We might see MARA closing 2023 last trading day with a predicted price of $27.74, with a minimum of $25.52 and maximum of $29.96.
Marathon Digital Share Price Prediction For Jan-Jun 2024
As we approach 2024, do remember that April 2024 is an important date for the crypto industry, hence we can see that our prediction is having a negative return and price drop for the month of April.
No doubt generally Bitcoin prices will go up when halving happen, but it might not be the same for larger miners like MARA.
We shall begin 2024 with a opening price of $27.74 for January 2024, we are expecting a low of $24.64 and high of $40.14, the averaged price for the month should come in at around $31.11, before closing the month with $31.90 and a change of 15.0%.
February 2024 shall open at $31.90, with low at $31.90 and high at $39.63, the average for the month should come in at around $35.03. MARA should close February at around $36.69 with a change of 15.0%.
We will continue to see strong price for MARA in March 2024, when it open at $36.69, with low at $35.42 and high at $41.58, the average price for March is around $38.05. MARA expected to close March at $38.50 with a change of 4.9%.
In April 2024. after MARA open the month at $38.50, we would see low at $30.11 and high at $38.50, this is due to the Bitcoin halving, as rewards is reduced by 50%, the average price for the month should be around $34.96, before closing the month at $32.73 with a change of -15.0%.
Things start to pick up again in May 2024, but the low is at $31.24 and high at $36.68, with an average for the month at $33.65, before closing the month at $33.96 with a mere change of 3.8% only.
In June 2024, MARA start to get better low ($33.96) and high ($42.17), the average price for the month improved significantly to $37.29 before closing the month with $39.05 and a change of 15.0%.
Summary
Based on the prediction, it might signalled this is a good time to look at MARA as the price traded is still low, but do be aware that this is the rally based on historical data that crypto stocks rally before the halving.
I would think that it could help us make a handsome profit if we take a position now before exiting in March 2024 sometimes.
But do be cautious that there might be events or news that could change this prediction, I will update as and when that happen.
I will be monitoring how MARA trade is like and I have planned to take a position.
Appreciate if you could share your thoughts in the comment section whether you think MARA rally could last till March 2024 before experiencing a pullback in April 2024, then we see a recovery from May to June 2024.
@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.
Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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