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With Bitcoin regaining momentum, it’s time to buy oversold Bitcoin stocks. In fact, after finding triple-bottom support dating back to July, the digital currency is up about $1,553 on the day. Last trading at $56,432, we’d like to see it rally back to $64,000 near-term. Analysts at Bernstein have also noted that if Donald Trump wins the election in November, Bitcoin could rally to between $80,000 and $90,000. If Kamala Harris wins, they believe Bitcoin could slip to a range of $30,000 to $40,000. “Explaining their reasoning for the divergence, the analysts said that although attempts have been made to reach out to both sides of the political spectrum, the crypto industry has received ‘more warmth’ from the Trump side. ‘While crypto industry leaders have been more open-minded with the Harris campaign, and are hoping for a more constructive policy, we expect the delta between the two political outcomes to be wide,’” noted TheBlock.co. |
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While that’s a catalyst worth paying attention to, we’re arguing for upside based on BTC catching strong support, which has led to big rallies for BTC and BTC-related stocks, such as: With more than 1% of all Bitcoin on hand, MicroStrategy (SYM: MSTR) rallies when BTC rallies. Even better, MSTR is technically oversold at $123.74. It’s also oversold on RSI, MACD and Williams’ %R and could rally back to $150 near-term. Helping, Barclays just initiated an overweight rating on MSTR. The firm added that, “In essence, MSTR feels like a BTC index fund that is also capable of generating its own investment capital, such that investors not only gain exposure to the underlying BTC asset price, but also benefit from future self-funded accumulation,” as quoted by Seeking Alpha. |
Wallstreet Rush
This could be the #1 Bitcoin Stock for Your Radar
With Revenues Exploding and a $4 Price Target, This Stock May Be the Smartest Way to Ride the Bitcoin Wave!
This small cap company is making it simple to invest in the rapidly growing blockchain revolution. Now is one of the most exciting times to have your eyes on the company as it is one of the ONLY publicly traded companies purpose-built to provide direct exposure to nascent digital asset markets.
Get the name and ticker here and see why this stock is a smart choice to gain exposure to the Bitcoin boom!
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Company: Marathon Digital (SYM: MARA) Bitcoin mining stock Marathon Digital (SYM: MARA) is also oversold. After also catching triple-bottom support dating back to April, MARA is starting to pivot higher, too. It’s also over-extended on RSI, MACD and Williams’ %R and could retest $18 near-term. It could rally even higher if Bitcoin can continue to recover. |
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