Hello, today I have analyzed NASDAQ:MARA, Marathon Digital Holdings is a Bitcoin mining company. The stock price has a 90% correlation with the Bitcoin price. As the value of Bitcoin keeps making all time highes Marathon's income will do so as well. Since the company has more than 99% of their value in Bitcoin itself.
Why It will soar
Loads of institutional investors are piling into Bitcoin.
More and more companies continue to support Bitcoin.
MARA is showing great price strength on all timeframes.
Price targets My short, mid and long term price targets are extremely bullish. I've set my short term price target at $60 (Until next friday) and my long term (1 year from now) at $150.
Conclusion Since Bitcoin is a strong currency and has been the best performing commodity for the last 12 years, ontop off insitutions beginning to adpot Bitcoin as well as companies accepting Bitcoin for goods and services. It is also showing a disconnect from the generall stock market which makes It more independent. All of this just proves my point that Bitcoin is the future. This is a strong buy from my side and I will keep dip buying this all the way up, same goes for Bitcoin.
OBS Note that I am a little biased, I hold Marathon Digital Holding stock at a GAV of $35.
Comment
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Hello, MARA has now cooled of a little as It tends to do after making big runs. I would snap some more shares up in the low $40 to high $38 range for a dip buy.
Note that If you decide to take a position in MARA note that she is a dirty little tease. You need to have some ice in your stomach. It fluctuates a lot.