$CleanSpark, Inc.(CLSK)$ $Marathon Digital Holdings Inc(MARA)$ $MicroStrategy(MSTR)$ $Coinbase Global, Inc.(COIN)$ $Iris Energy Ltd(IREN)$
Moral of the story is, take profits while you guys can. AND DON'T GET CAUGHT.
⛔️⛔️CLSK for example, is trading way too high at the moment and will soon see a sharp correction down ❗️❌️❗️❌️ The purchase of more sites does not mean that these sites can go online anytime soon for them to reap higher mining capacity. Instead, CLSK may have to sell more Bitcoins to finance this operation, further placing downward pressure on the price of Bitcoin.
Bitcoin is still trading sideways. There is no reason for these stocks to be flying anywhere given recent reports on how the daily revenue for miners stands at $35 million, down 55% from the peak of $78 million in March. So, no need to FOMO and jump in on these yet. If Bitcoin slides below it's strong support at $64-$65,000, it could retrace heavily down to $57,000, bringing all the crypto stocks down along with it. And right now, fears of recession and overbought situation across all stocks are looming.
Also, Miners sold at least 1,200 BTC on June 10, the highest daily total in two months. With Marathon Digital selling 1,400 bitcoins (worth $98 million) since the start of June. Not sure how much CLSK has sold in June as of now, but these miners will continue to sell Bitcoin and push the price of Bitcoin lower for as long as operational costs get more and more costly.
Stay knowledgeable, take profits while yall can and invest wisely.
Some rollercoasters are not worth it.
🙌🫶🙌🫶🙌🫶🙌🫶🙌🫶🙌🫶🙌🫶🙌🫶🙌🫶
Modify on 2024-06-21 00:59
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- Sjaydenshun·06-21TOPI’ve been following your cleanspark call, and made good bucks! Many thanks!! :)1Report
- fishinglo·06-20TOPGreat resilience1Report