Bitcoin Eyes $67K After Halving as Altcoins Primed for Short Squeeze, Hedge Fund Says
Crypto-focused stocks also bounced higher, led by bitcoin miners Riot Platforms and Hut 8.
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Bitcoin Miners
Crypto-focused stocks also bounced higher, led by bitcoin miners Riot Platforms and Hut 8.
The Bitcoin “halving” was supposed to dramatically chop revenue of bitcoin mining companies. Instead, the simultaneous launch of Casey Rodarmor’s Runes protocol has ignited a flurry activity on the oldest and largest blockchain, driving up fees.
The days of rising crypto prices lifting all boats, including mining stocks, may be gone. But it still looks like being a good year for digital assets, says Alex Tapscott.
Share prices of publicly listed bitcoin mining companies are “on fire” thanks to high transaction fees, one analyst said.
Bitcoin [BTC] mining stocks soared Thursday amid stable bitcoin price near its 17-month highs and bullish equity markets.
BTC could run towards $40,000-$45,000 after consolidating around current prices, Capriole Investments said.