Head analyst Mitchell Askew of Blockware Solutions said a similar “divergence” occurred twice in 2023, which resulted in a “great opportunity” to buy mining stocks at a discount.
Bitcoin mining stocks have tanked as much as 27% over the last three trading days despite a recent Bitcoin (BTC) rally that saw the asset nearly top $64,000.
One analyst suggests it could be due to misplaced weariness over the upcoming halving while hinting that it could be another “great opportunity” to acquire cheap mining stocks.
Since Feb. 27, the two largest Bitcoin miners, Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) have fallen 18.5% and 21.9%, respectively, according to Google Finance.
