Bitcoin Must Surpass $98,000 for Miner's Sustainability in 2024
Bitcoin mining stocks have had a phenomenal year so far in 2023. They have fetched investors double-digit returns. In fact, they have risen significantly higher than BTC and the average stock market index. Riot platform has been 2023’s top gainer. Its stock has appreciated by 442% from the lows registered on Jan. 3, 2023. Likewise, Marathon is also up 405%. Other mining company stocks, like CleanSpark and Bitfarm, have risen in the 180% to 290% range. Since the beginning of 2023, Bitcoin is up by 78%, while the Nasdaq Composite Index has appreciated by 35%. Mining Stocks vs. Bitcoin vs. Nasdaq Performance by TradingView Also Read: Crypto Volume on Exchanges Dropped 12% to $2.6 Trillion The Halving ‘Risk’ Recently, several predictions have been made indicating that BTC could reach a six-figure valuation by 2024. More than traders or investors, mining companies need Bitcoin to attain a certain valuation for sustenance. A recent report published by Seeking Al...