4. Oktober 2023

Analyst Predicts Rally in Crypto-Proxy Stocks, Bullish on Bitcoin

• Analyst Bluntz predicts a rally for four crypto-proxy stocks: Coinbase (COIN), MicroStrategy (MSTR), Marathon Digital Holdings (MARA) and Riot Platforms (RIOT).
• He believes that bulls can send BTC to a fresh 2023 high if it breaks $29,700.
• Bluntz plans to re-enter Solana (SOL) after BTC sweeps $29,500.

Analyst Predicts Rallies in Crypto-Proxy Stocks

An analyst who nailed the bottom of Bitcoin’s 2018 downtrend says that stocks with exposure to the crypto industry look far more bullish than the digital asset markets. Pseudonymous analyst Bluntz tells his 223,900 Twitter followers that the stocks of crypto exchange Coinbase (COIN), business analytics firm MicroStrategy (MSTR), digital asset mining companies Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) all look primed for a reversal after their recent corrective moves.

Bull Outlook on Bitcoin

Looking at Bitcoin itself, the crypto trader thinks that bulls can stage a comeback and send BTC to a fresh 2023 high if they manage to push the flagship digital asset above $29,700. At time of writing, BTC is trading for $29,261.

Re-Entering Solana

As for the smart contract platform Solana (SOL), Bluntz says that he’s looking to accumulate the altcoin now that BTC has swept $29,500. At time of writing, SOL is worth $23.29, close to Bluntz’s downside target.

Risk Warning

Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor.

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