Should settle in this range....BEFOREThe explosion towards $50K. So far Bitcoin is acting as i expected, which is VERY difficult to do & predict in the short term. But so far, up to now......everything is going to plan. My guess is that Bitcoin will trade between $40k-$45k.........maybe until end of year and MAYBE in the first few weeks of the New Year it may make its FIRST v"substantial" move........TO $50K.
But be warned, the $50K level is a very tough, mental barrier and one those psychological walls which are very difficult & stubborn to overcome for investors.........on the first few tries. It's a big ask & a tough challenge, so expect a hard fought battle and numerous attempts, before it is defeated. And when it is, ALL the miners should rally BIGTIME in response. Well, let me rephrase that, all the good & decent miners should do REALLY well. And talkin about the miners....
My top 3 picks......in order of preference of course, Cleanspark, Hut & Hive.....have all moved up BUT CLSK has been a real standout performer & on a level of its own . The other 2 not so much but for different reasons. But Hut & Hive should catch up as Bitcoin approaches $50K. And takin about valuations........as there are some major descrepancies happening, somethings have got to give soon. Cleanspark my top pick & top performer in the ENTIRE sector, which has been a MONSTER RUN.....and still going strong......is now valued at over $2B !!!!
In contrast, Hut 8 is only valued at 1/2 tha despite holding 4X as many coins in their coffers. Which i find totaly nutts btw. I'm not complaining on or hating on CLSK BUT something gotta give here and bring valuations back to normal. So either CLSK comes back down to earth to more normal valuations OR Hut 8 joins CleanSpark. Hut 8 might not have the hashrate CLSK has now, BUT they do have all those precious coins.......4X as much as Clsk........And trust me that's worth somerthing!
My guess?.....The market & investors will re-evaluate & reassess Hut 8 by rerating its NAV which will in turn show up in the stock price.......IF that's the case, then Hut 8 should trade closer to $20 us rather than $10.
GLTA