Bitcoin Mining Stocks Resume Uptrend As Price Rises Again
Data shows following a period of struggle, Bitcoin mining stocks have once again started rising as the price of the crypto also rallies. Bitcoin Mining Stocks Go Up As Miner Revenues Observe Increase As per the latest weekly report from Arcane Research, the BTC miner revenues have seen a rise of 6% over the past […]
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Bitcoin mining stocks really gained prominence in 2021. Due to the increase in the price of the digital asset, mining profitability shot up, and investors used this as a way to gain exposure to the market. As the market has retraced, though, the mining stocks have struggled. However, they continue to be in operation, and […]
Bitcoin price is in the middle of a pullback from its longer-term climb but might be ready to resume the uptrend if support holds. Bitcoin Price Key Highlights. Bitcoin price has been selling off in the past couple of days after breaking below a short-term rising trend line. The longer-term uptrend is still intact and bitcoin price is on its way to test a major support area. Technical indicators are suggesting that the uptrend could resume after this correction. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the....
Bitcoin price could be due for a test of the channel support once more, with technical indicators confirming a potential bounce. Bitcoin Price Key Highlights. Bitcoin price is still inside its ascending channel pattern after getting rejected on its attempt to break past the resistance. Price could be headed for the channel support for another bounce higher. Technical indicators suggest that the uptrend could carry on. Technical Indicators Signals. The 100 SMA lines up with the channel support around $665, adding to its strength as a potential floor. In addition, the 100 SMA is safely above....
Bitcoin mining stocks have not fared the best in recent times. Although they were one of the winners of 2021, their fall from grace had been even more rapid than their climb there in the first place. While the digital asset itself was recording losses such as 20%, mining stocks had taken it a step […]
Bitcoin mining has been a profitable venture especially since the price of the digital asset began to surge. But despite the increase in price, miners have continued to choose to hold their coins instead of selling them. Rather, these mining companies have taken to selling stocks to fund their operations. This has continued into the […]