According to Coindesk, investment company Bernstein increased its year-end target for Bitcoin from $ 80,000 to $ 90,000.
While Bernstein also updated his predictions for mining stocks other than BTC, he said that they think the hash rate after the halving will decrease by 7% compared to the previous 15%.
Bernsterin analysts Gautam Chhugani and Mahika Sapra made the following statements in the report:
“While there are only a few days left for the Bitcoin halving, we are increasing our BTC year-end target from $80,000 to $90,000.
“With a new bitcoin bull cycle, strong ETF inflows, aggressive miner capacity expansion, and all-time high miner dollar revenues, we think Bitcoin mining stocks also present attractive buying opportunities for investors seeking exposure to the cryptocurrency cycle.”
Accordingly, Bernstein analysts increased the price target for CleanSpark (CLSK) from $14.20 to $30, and the price target for Marathon Digital from $14.30 to $23, while reducing the price target for Riot (RIOT) from $22.50 to $22.
However, analysts noted that Riot and CleanSpark are poised to emerge as leaders in the industry as the largest miners with self-mining capabilities.
*This is not investment advice.
