Bit Digital (BTBT)

by | Dec 30, 2020 | Daily Trade Alert

With the cryptocurrency boom showing no signs of cooling off, mining stocks are exploding to higher highs. Last checked, Bitcoin was up another 3.7% in the last 24 hours to $27,851.

Even better, analysts say Bitcoin could rally well beyond $100,000.

Citibank for example says we could see $318,000 BTC in 2021. Guggenheim is calling for a valuation of $400,000. JP Morgan says it could rally on a $600 billion catalyst, which includes just a 1% allocation from global pension funds and insurance companies.

That could push mining stocks, like Bit Digital (BTBT) even higher.

The best part – according to Seeking Alpha, the company is well positioned to benefit from the crypto bull market. “What’s interesting here is that the company’s current mining capacity and revenue are already above some more high-profile peers, even as the stock is trading at a discount highlighting attractive relative value.”

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