We’ve seen a major Bitcoin meltdown so far this year, along with the rest of the market. After taking out the $20k level to the downside, it consolidated around these levels for over a month. While I’m not sure what Bitcoin will do next, there are some attractive-looking Bitcoin stocks I’ve got my eye on. Finally, they are looking attractive on a fundamental level.
These bitcoin miners/holders look attractive technically and fundamentally:
HUT
We saw some volume come into this one yesterday. After looking at their balance sheet, I worked out that they hold bitcoin worth more than where the stock is trading at now. Thus I think this stock could trade 50-100% higher and fast. I’m looking for a good entry and could jump into this one any day now!
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MARA
This is also one I really like. It’s been one of my favorite crypto plays for ages. Our resident Crypto expert Jake McCarthy thinks it’s best of breed as well. They have a bunch of Bitcoin, and in my eyes the stock is reasonably priced around these levels. That’s not even taking into account the technology and other projects they have going on! We had a big run yesterday, so im looking for a pullback for an entry
I’m staying away from these:
HUT and MARA are the ways I’m looking to play strength in crypto at the moment. The two crypto plays I think aren’t as good are RIOT and MSTR. RIOT is similar in market cap to MARA but has less Bitcoin from what I can tell. I also hate MSTR and love to short that dog meat stock. So those 2 I’m staying away from!
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