Bitcoin Must Surpass $98,000 for Miner’s Sustainability in 2024

As the coming year nears closer to the halving of Bitcoin block rewards, investments in Bitcoin mining stocks are becoming more and more risky. Despite yielding double-digit returns so far this year, BTC mining stocks could see a bleak future unless Bitcoin supports the industry.

Riot Platform became one of 2023’s biggest success stories, reaching a 442% gain from Jan. 3 lows. However, the potential halving ‘risk’ has investors reconsidering their specs in the sector. Seeking Alpha recently released a report depressing investors with the caution that the halving will make it extremely difficult for the industry to remain unscathed.

Robert Wilson author
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