Buy Marathon Digital Stock Now Before You Miss Out — TradingView News

Now that a number of spot Bitcoin BTCUSD exchange-traded funds have been approved, you might be interested in Bitcoin mining businesses like Marathon Digital MARA. It’s actually a great time to invest, as today’s MARA stock analysis points to significantly higher prices this year.

Granted, there’s an upcoming event that might make some cryptocurrency-miner stock traders nervous. Don’t worry, though, as Marathon Digital stock can rally throughout 2024. History shows that just HODL—Holding On for Dear Life—is your best strategy to ride out any crypto-market volatility.

Will the Halving Event Crush MARA Stock?

So, here’s what might cause some folks to lose sleep at night. There’s a Bitcoin halving event coming up in April. This means that Bitcoin miners’ reward for their mining activity will be cut in half soon.

Much like the Olympics, Bitcoin-halving events happen approximately once every four years. The idea is to reduce the supply of Bitcoin and thereby keep the Bitcoin price high. That’s a net positive for Marathon Digital, which benefits from higher Bitcoin prices in the long run.

Still, some traders might worry about Marathon Digital stock coming under pressure in the Bitcoin’s wake halving event. Let’s look at the last time this occurred, though.

Reportedly, MARA stock rallied from 76 cents on May 11, 2020 (the most recent Bitcoin halving event), to $2.14 on Oct. 28, 2020. That’s a 182% gain in just 150 days. Yes, that’s just one example, but it shows that Bitcoin halving events don’t result in negative pressure on the Marathon Digital share price.

Marathon Digital Takes Control of Its Mining Operations

Marathon Digital has an enormous Bitcoin hoard. In fact, the company had 15,741 Bitcoins as of Jan. 31.

Marathon Digital is making a smart move by assuming full control of the company’s Bitcoin-mining operations. Specifically, Marathon Digital entered into an agreement to remove rival cryptocurrency miner Hut8 HUT as the operator of two Bitcoin-mining sites that Marathon Digital recently acquired.

There are direct benefits for Marathon Digital. First, the company “expects to reduce its operating fees, thereby improving its cost to produce” Bitcoin. Second, Marathon can “more effectively participate in energy hedging and other energy management services.” Moreover, the company will be able to “streamline the implementation of its proprietary technology to improve operational efficiency.”

MARA Stock Analysis: Invest Now or Miss Your Chance

Believe it or not, a thorough MARA stock analysis shows that it can actually rally after a Bitcoin halving event. Plus, Marathon Digital, with its sizable Bitcoin hoard, will benefit from taking full control of its Bitcoin-mining operations.

All of this adds up to a powerful bull case for Marathon Digital stock, but you need to get on board today to build your wealth in 2024. Otherwise, you’ll only end up investing in Marathon Digital at higher share prices. So, cryptocurrency enthusiasts can either take action now or miss out on the rally and regret it later.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.