I've held MARA for quite a while now and it has been one of the best performers in my portfolio. For me it was to be able to buy into the Bitcoin speculation without having to directly buy Bitcoin. Whenever BTC went up, Mara behaved like an leveraged stock and would rise more significantly. When BTC went down, Mara of course would follow.
It will be interesting to see how the market digests news of the new Crypto ETFs being approved into the mainstream by the SEC today.
Might be one to watch.
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Here's hoping for a big rally today after the trading holiday on Monday. Will be interesting to see what happens. BTC has recovered a little, but certainly not significantly.
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Smashed some more :)
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Finally got a big 100% run off that recent low with the rally in the bitcoin price.
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Oh and I still hold - even through that rough dip.
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( LOT of gaps in that price action though ;) )
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Bictcoin went up again today and of course MARA responded in fine fashion.
Seems like a good one to add to the portfolio. Thanks for pointing it out!
Beyond_Charts
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With the ETF on BTC being such a big flop (it can take about 3 days for the new ETF flows to translate to Bitcoin buying); I say that because those who bought on D1 are now well down double digits, I think there could be room for some more volatility in the crypto space.
This is why while I think 18 is a good level, I will not be surprised if there is an impulse move down to $15.
If this happens, the February 9 $22 call may become quite interesting, may be it dips down to 30-40 cents. Ultimately if $15 holds, I see MARA retrace into 22-24 area. For further bullish action on this, this 24 level I believe will need to be taken out, else it could become significant resistance.
On Bitcoin itself, before the ETF I expected a test of 37-39K before some support comes in. I still think that is the case. If 37-39 were to be tested, I think it could be support for a move back above 44-45K.
danandpatrice
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Agreed. Im in it but with calls
zAngus
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@danandpatrice, need to see where Bitcoin heads. Might be a bit of uncertainty for a few days while the market digests. Im happy to continue holding though to see what 2024 brings BTC price wise with the halving around the corner.