Bitcoin is coming back strong.
And some say, it could see higher highs.
At the moment, BTC is up $808.80 to $30,258.70, and could peak at $45,000 by May, according to K33 Research, as noted by Coindesk.com. In fact, “The drop and subsequent recovery are analogous to the pattern seen in the 2018-19 bear market in terms of length and trajectory,” they added. “While history is far from likely to repeat in a similar fashion if the fractal were to continue – BTC would peak around May 20 at $45,000.”
If that happens, Bitcoin related stocks could explode, too.
In fact, as we noted on April 11, some of those top stocks include:
Marathon Digital (MARA)
MARA is on the move with Bitcoin now above $30,000 and running. If BTC can push even higher, MARA will follow. That’s because its revenue depends on the direction of Bitcoin. Where Bitcoin travels, mining stocks like MARA are sure to follow. On April 11, MARA traded around $9.50. It’s now up to $11.60 and running.
Riot Platforms (RIOT)
Riot Platforms is on the move, too. After running from about $5.50 to $10.58 in recent weeks, RIOT could see higher highs on the BTC recovery. According to the company, it produced 695 BTC – an increase of 36% year over year. With that, RIOT now owns 7,072 BTC. On April 11, RIOT traded around $11. It’s now up to $13.44.
MSTR now owns about 140,000 BTC for about $4.17 billion. “MicroStrategy’s executive chairman Michael Saylor has become a vocal advocate for Bitcoin, arguing that it has the potential to outperform traditional asset classes such as gold and stocks,” as noted by Decrypt.co. On April 11, MSTR traded around $322. It’s now up to $327.88.