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bitcoin
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tether
Tether (USDT) $ 0.999664
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BNB (BNB) $ 603.25
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USDC (USDC) $ 0.999896
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XRP (XRP) $ 0.538844
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BUSD (BUSD) $ 1.00
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Dogecoin (DOGE) $ 0.172476
cardano
Cardano (ADA) $ 0.460811
solana
Solana (SOL) $ 165.00
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Polygon (MATIC) $ 0.725617
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tron
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    BTC vs BTC miners: H.C. Wainwright analyst picks a facet

    Latest News


    • H.C. Wainwright analyst says mining shares are higher decide than BTC.
    • Mike Colonnese defined his view in a analysis word on Tuesday.
    • Bitcoin gained 40% in January, mining shares 124% on common.

    Mining shares are considerably higher than direct publicity for traders wanting to totally profit from an additional potential improve in bitcoin costs.

    Mining shares are massively outperforming BTC

    Bitcoin traders have been a cheerful lot final month as costs jumped almost 40%. However Mike Colonnese says the achieve was slightly trivial in comparison with a whopping 124% improve on common in mining shares.

    Extra importantly, the analyst expects that outperformance to proceed transferring ahead. His analysis word reads:

    We count on improved mining economics, pushed by larger BTC costs and moderating power prices to drive upward estimate revisions for the group all through 2023 and see continued a number of growth for mining shares.

    Colonnese expects bitcoin costs to notably rejoice as soon as the U.S. Federal Reserve slams the breaks on elevating charges and decides to pivot.

    Colonnese names a ‘must-own’ mining inventory

    The H.C. Wainwright analyst additionally famous that mining inventory proceed to construct on their positive factors despite the fact that bitcoin pared again a little bit over the previous week.

    See also  FTX contemplating relaunching in Q2 after asset restoration

    A part of his bullish view on BTC miners is predicated additionally on their month-to-month manufacturing replace. Three of them, particularly – Marathon Digital, CleanSpark, and Cipher Mining lately reported a pointy improve within the variety of bitcoin they minted in January.

    Consequently, Colonnese upgraded CIFR to “purchase” this morning and stated its shares might climb additional to $3.0. That implies a few 75% upside from right here.

    In January, Cipher Mining Inc improved its hash fee by roughly 48% versus the prior month. Colonnese dubbed it a “must-own” mining inventory in his analysis word at present.

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