THIS WILL SEND BITCOIN MINING STOCKS HIGHER | MARA | RIOT | HIVE | BITFARMS
The major catalyst that can send bitcoin and bitcoin miners higher is the approval of a bitcoin ETF in the US. There have been several applications for US bitcoin ETFs from Fidelity, WisdomTree, VanEck and others. We have the stock-to-flow model, we have the Wycoff model and there are plenty of bitcoin price predictions, but the question is where are the funds going to come from for bitcoin to reach a price target of a 100k by the end of the year. 100k by the end of the year is actually quite conservative. I know that’s difficult to believe so let me explain why. BTC is now at 38,700 and to get to 100k by the end of the year that’s a 2.6x from here. We would need 1,163 billion or 1.16 trillion for that. The top ten asset management companies have $34 trillion. If they only invest 1% then we can have 0.34 trillion. So that’s almost one-third of the funds we need to get to 100k and this is only the top ten investment companies there are hundreds of more companies all over the world. With the rise in BTC prices, the share price of the mining stocks like MARA, RIOT, HIVE and BITFARMS should also increase. Please let me know your thoughts in the comments below.
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#MARA #RIOT #HIVE #BITFARMS #BITCOINMININGSTOCKS