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3 Bitcoin Mining Stocks Continuing to Thrive Post-Halving

3 Bitcoin Mining Stocks Continuing to Thrive Post-Halving
Bitcoin mining stocks did exactly what we thought they’d do after the April 20 halving event. They pushed higher.

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Bitcoin mining stocks have risen after the April 20 halving event, just as they did in 2012, 2016, and 2020. Marathon Digital, for example, traded at $15.50 on the day of the halving and rose to $22.82 weeks later. Bitcoin's recent pullback has caused a drop in Marathon Digital's stock, but the pullback in Bitcoin may be overdone. The digital currency is oversold at its 200-day moving average and is over-extended on RSI, MACD, and Williams' %R. Bitcoin is expected to bounce back shortly, making recent weakness an opportunity to buy top Bitcoin mining stocks. Riot Platforms and Hut 8 Mining are also showing signs of potential growth. Analysts at Bernstein predict that Bitcoin could rally to $200,000 by 2025 and to $1 million by 2033, which would benefit mining stocks like Riot Platforms. Hut 8 Mining was also upgraded to a buy rating by analysts at Craig-Hallum Capital, who believe the potential for growth and stock appreciation outweigh the risks.

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