ETH - 3 Losers of the Bitcoin Halving
2024-05-01 06:30:00 ET
The conventional wisdom is that the halving will send the price of Bitcoin (CRYPTO: BTC) soaring. But that doesn't mean that everything crypto-related is going to soar as well. In fact, quite the opposite.
I'm particularly concerned about some of the formerly high-flying Bitcoin mining stocks, such as Riot Platforms (NASDAQ: RIOT) and Marathon Digital Holdings (NASDAQ: MARA) . And the Bitcoin halving could be more bad news for Ethereum (CRYPTO: ETH) , which already appeared to be falling out of favor with investors. Let's take a closer look.
It probably sounds counter-intuitive that Bitcoin mining stocks could be poised for a market downturn after the halving. Weren't these some of the best-performing stocks of 2023? Weren't they roundly celebrated as some of the best Bitcoin proxy stocks you could buy?
For further details see:
3 Losers of the Bitcoin Halving