Wall Street Bank JPMorgan, Bitcoin after the fourth quarter 2024 data $83,255.23 updated the price targets and estimates in the mining sector. The Bank went to regulate the estimates of the hashrate growth of the network with changes in the price of Bitcoin.
Editing for Price Targets
JPMorgan raised the evaluation of the company called Iren, which he saw in the sector, neutral. It also reduced the price target for Iren from $ 15 to $ 12. Among other companies, Cipher Mining was reported to be neutral from excessive weight, and the excessive weight grade was preserved for Riot Platforms and Cleanspark. There have been changes in the price targets determined for companies.
JPMorgan estimates
JPMorgan reiterated the neutral view for Mara Holdings and said that the price target has drawn from $ 23 to $ 18. A decrease in a 10 %decrease in Bitcoin price assumption and an increase in the hashrate growth forecast in the network was observed by 80 %. This led to a significant decrease in the total market value of the sector.
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The bank report stated that the total market value of five mining shares decreased by 20 %since the beginning of the year and the decline in Bitcoin price was 11 %. Mining shares, high -performance information agreements concluded in a longer time than expected, said economic difficulties.
JPMorgan: “The decline in mining shares offers an attractive entry point for investors.”
The arrangements were explained by the idea that it may have an impact on the balance of risk and return due to changes in market conditions. The Bank said that if investors show interest in the sector during this fall period, they may earn in the long run.
These updates in the price targets reflect the economic pressures in the sector and the changes in mining dynamics. JPMorgan’s current assessments aim to provide a general perspective on the financial performance of mining companies.
The report emphasizes the importance of closely monitoring market conditions and sector opportunities for investors. Investors can shape their decisions in this direction, taking into account the risks.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
