Analysts at Wall Street giant Bernstein said the spot Bitcoin ETF is a guide to new highs before the halving.
by Bernstein analysts Thursday, February 8 In the report published today, stocks that can be invested before the Bitcoin halving were pointed out.
Analysts say Bitcoin mining stocks arepot Bitcoin exchange traded fund (ETF) He pointed out that they fell to the bottom level with the declines after the approval and emphasized that these assets could make good profits in the coming period. The stocks pointed out by Bernstein analysts Gautam Chhugani and Mahika Sapra are: Riot Platforms (RIOT) And CleanSpark (CLSK) happened.
Gautam Chhugani And Mahika SapraStating that the demand for the spot Bitcoin ETF could push the Bitcoin price to a new peak, he noted that mining stocks would also share in this rise:
Given the positive ETF flow momentum, strong Bitcoin price action, and healthy miners adding capacity to the halving, we feel comfortable recommending investors enter here for our preferred names. The institutional narrative led by Bitcoin ETFs is driving demand, and since Bitcoin is a reflexive asset, we expect the higher price to bring higher ETF inflows, leading to new highs in 2024.
RIOT and CLSK, which have made a rapid recovery after the decline they experienced in the past weeks, have increased in the last 24 hours, respectively. 15% And 13% showed an increase.