Broker Raises Year-End Bitcoin Target to $90K and Updates Mining Stock Forecasts

According to CoinDesk, Bernstein increased his year-end bitcoin price forecast from $80,000 to $90,000 and updated forecasts for mining stocks in his coverage. In a research report published on Thursday, analysts Gautam Chhugani and Mahika Sapra noted that Bitcoin miners are attractive buys for stock investors looking to get into the crypto cycle due to the new Bitcoin bull cycle, strong ETF inflows, aggressive miner capacity expansion, and so on. the highest miner dollar revenue of its time.

The authors assume a 7% drop in hashrate after the halving due to shutdowns, compared to the previous estimate of 15%. Hash rate refers to the total combined computing power used to mine and process transactions on the proof-of-work blockchain. The quadrennial reward halving, in which mining rewards are halved, is expected to take place in mid-April.

Bernstein raised his price target on outperformer CleanSpark (CLSK) to $30 from $14.20, lowered his price target on outperformer Riot Platforms (RIOT) to $22 from $22.50, and increased his price target on Marathon Digital (market perform) to $23. increased to dollars. Starts at $14.30. The report also stated that Riot and CleanSpark are poised to emerge as leaders in the industry as the largest miners with the largest self-mining capacity.#si_dar $BTC