Bitcoin about to burst through.....That stubborn wall of $31K that's been keeping it down. My guess is this will be accomplished sometime before the week is done AND Bitcoin will stabilize itself somewhere around ~$32K over the week-end. Setting up some solid momemtum, euphoria & Fomo next week for a shot at the $35K level. If this is indeed the scripted game plan, then ALL the large, mature operators like Hive should continue to do extremely well. And my top picks for large caps continue to be the same, CleanSpark & Hive. Others, who are also financially stable should do ok as well.
BUT the BIG money & returns will be made in the smaller, more speculative, neglected & forgotten players which haven't made their BIG moves just yet. As invesrtors pile in ....in droves looking for those lucrative returns and wanting to participate in the party. All that new investment will come in and find it's way to the smaller guys as it trickles down to them. So if you want those huge, double digit "Sasquatch" roi's & willing to take some added risk, that will be the place to be in the next dew months. My top pick for that speculative part of the Bitcoin mining space continues to be the same as previously mentioned, DMG Blockchain or DMGGF (DMGI in Canada).
Whatever your investment plans are in the market, i strongly suggest that everyone & anyone who wants a decent reutrn for 2023, should have some exposure to the crypto space. Specifically Bitcoin. And if direct expsoure through holding real Bitcoin in an account somewhere doesn't intrest you or you don't want to be bothered by the complexities of doing so, then the second best option is somekind of proxy with an indirect investment, like investing in a publicly traded Bitcoin miner. And i've given you my best picks for that endeavor should you wish to take a little more risk for some higher payback and choose to embark on it. And take this advice from a guy, who's followed this space almost from the start.
My advice.....invest at least 10% of your portfolio in the Bitcoin mining space for 2023/2024 and spread that between a stable, low risk mature miner like Hive or Cleanspark and a more speculative one like DMG. You'll get both the stability and the high returns with this strategy. In addition, and just as a warning, while there are OTHER options aside from Cleanspark & Hive as large miners as viable investments, i would defintetly NOT stray off the reservation when it comes to the spec plays or the smaller ones, because THAT could be fatal. As many of those microcaps are in dire trouble or not worth the risks. For the smaller miners JUST stick with DMGI/DMGGF and nothing else, for the larger ones, you have more leeway and therfore can indulge and play around a bit more.
If things keep going the way i expect them to go.......then stocks like Hive & Cleanspark should continue to provide stable, double digit returns every few months. But if your willing to take a little more risk, the risk/reward on something like DMG could be mindblowing and you could find yourself with a small fortune by years end......as that one could easily 10X from here if Bitcoin comes close to breaking it previous high.....
THAT is my two cents.......for what it's worth....
GLTA