Crypto Bulls on a Rampage: 2024’s Bitcoin and the Rise of Crypto Stocks
Bitcoin’s 44% Boom Rocks the Market
Bitcoin has been on a tear, climbing over 44% against the USD since the start of the year. That surge has investors looking for quick ways to grab a slice of the action—crypto stocks are stepping up to the plate.
Marathon Digital (MARA): A Miner with a Bright Future
Financial analyst Saqib Iqbal from Trading.Biz is forecasting a 36% lift for MARA as Bitcoin heads into the halving cycle.
His reasoning is simple: if Bitcoin touches $100,000 this year, miners will be the real beneficiaries. Marathon is a major North American miner that’s buying more BTC‑mining sites, and with the price ramping up, the company is poised to net big gains.
Fundamentals That Power the Hype
Let’s break down the numbers:
- 2023 income surged 229%, hitting $388 million.
- Net profit topped $261 million, thanks to digital‑asset gains.
- BTC production jumped from 4,144 last year to a staggering 12,852 this year.
Despite a 12% slide since January, Saqib thinks the dip comes from profit‑taking after last year’s 150% rally plus a temporary pullback.
Technical Outlook: Peaks, Valleys, and Potential Upside
On the daily chart, MARA sits above its 200‑day SMA. The next critical support is at $25.28—the level it touched back on March 8. A break past this could drive the stock toward $31.30, a 36% increase. On the downside, the key support of $16.14 is at stake; falling below could take the price toward $14.62.
Combine solid fundamentals with a promising technical stance, and MARA could be a compelling play during the Bitcoin surge.
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