Over the last three trading days, Bitcoin mining stocks have dropped almost 27%, despite a recent Bitcoin rally that saw a top of $64,000.
Marathon Digital Holdings (MARA) has fallen to 18.5%, and Riot Platforms (RIOT) has plunged to 21.9% since Feb 27, according to data from Google Finance. CleanSpark (CLSK) dropped to 27.5%, while TeraWulf (WULF) also slumped to 25.4%.
One analyst suggests this drop might be due to unwarranted concerns about the upcoming halving and hints that this could present a good opportunity to buy these stocks at a low price.
Instead, Bitcoin skyrocketed from $51,000 to an all-time high of $64,000 and is currently settled at $61,350.
A crypto trader named “Chris” mentioned on Twitter that he initially invested in CleanSpark but changed his stance on miners as Bitcoin approached to $65,000.
Also Read: Spot Bitcoin ETFs Hit Record-Breaking $7.7B in Trading Volume
