It looks like Bitcoin has bottomed out.
All as fears of further downside appear to be fading, with Germany running out of BTC to sell. “Data from Arkham shows that the wallet used by the German government to transfer BTC is now out of funds,” as noted by FXStreet.com.
Not only is Bitcoin pivoting higher at the moment, but so are the BTC mining stocks, like Marathon Digital (MARA). Helping, analysts at B. Riley just raised their price target on MARA to $20. All after MARA announced its June production numbers and operational updates.
As noted by Investing.com, “Marathon Digital reported a slight month-over-month decrease in Bitcoin production, with a total of 590 BTC mined in June, marking a 4% decline from the previous month.”