Marathon Digital (MARA)

by | Jun 24, 2022 | Daily Trade Alerts

Bitcoin is pushing higher.

After catching strong support around $20,000, BTC is now back up to $21,288.27. Hopefully, BTC will eventually refill its bearish gap around $30,000, near-term. While you can always invest in Bitcoin, another great way to gain exposure is with oversold BTC miners.

Look at Marathon Digital (MARA), for example.

After plunging from $30 to less than $7, the stock is now consolidating around $7.05. From here, we’d like to see it closer to $10 initially, as BTC shoots higher. Helping, Cowen analyst Stephen Glagola just initiated coverage of the stock with a market perform rating. Even better, earlier this month, the company said the total number of miners installed and awaiting energization increased to 19,000 miners. It also increased its total BTC holdings to 9,941.

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