Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Seeking Alpha 2021-12-12 22:18:00

How will crypto miners fare with weaker Bitcoin prices heading into 2022?

Crypto miner stocks appear to be closing out the year with substantial gains so far as bitcoin (BTC-USD) jumps 164% Y/Y; however, money managers are saying the world's largest digital token is poised for a large selloff in 2022, Bloomberg cites a survey done for Natixis Investment Managers. The expected drop in bitcoin (BTC-USD) next year comes at a time when an increasing amount of institutions around the globe enter the digital asset space amid rising client interest. In the meantime, 28% of all institutions surveyed now invest in cryptos, with nearly a third of that group planning to increase their crypto allocations next year, Bloomberg notes. Still, shares of crypto miners like Marathon Digital (NASDAQ:MARA), Riot Blockchain (NASDAQ:RIOT) and HIVE Blockchain (NASDAQ:HIVE) decline substantially over the past month as bitcoin (BTC-USD) is on pace for its fourth consecutive weekly correction from its October all-time high. "Bitcoin is still seen

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.