Will Crypto Stocks Rally or Decline on Halving Day
$CleanSpark, Inc.(CLSK)$ $Riot Platforms(RIOT)$ $Marathon Digital Holdings Inc(MARA)$ $Iris Energy Ltd(IREN)$ $Coinbase Global, Inc.(COIN)$
Despite the high anticipation regarding the upcoming halving event, one cannot negate the fact that the rewards to mine would be halved, thereby impacting miner stocks negatively in the short run，regardless of how profitable they are. That being said, I'd avoid buying into these stocks for now. There would be a better time to buy in. I'd come back in only when miner stocks prove strong financial data post halving.
In the days after the Spot Bitcoin ETF approval, massive sell-offs in the crypto space saw MARA retreating to $11, Cleanspark to $8, Riot to $9. So if you think their prices now are attractive, think again. There is still too much uncertainty in the market with high interest rates and conflicts in the Middle East. Greens can become Reds in the twinkling of an eye.
Don't be FOMO and buy in today, thinking you'd reap hefty profits tomorrow when it halves.
YOU MAY BE DISAPPOINTED.
YOU HAVE BEEN WARNED.
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- SPACE ROCKET·04-19Yes, we have had enough of fun in Feb/March. This fun is unlikely to continue in the near future, in light of escalating Middle East Conflicts and accelerating inflation. 😵💫1Report
- clc6152·04-20I will choose short selling mara , clsk and iren....let's see the price on next Monday1Report
- extractoi·04-19I reckon we gotta be smart and play it safe.1Report