In an ideal world, if we knew that sometime in Q1 of 2022 Bitcoin would peak at around $138k and with it most cryptocurrency mining stocks, what would be the best crypto-stocks to short?
How I see it, the macro-environment is really stacked against crypto-mining stocks AFTER the current bull run is over. Bitcoin usually takes 1-2 years to decline to a new low (this time a good estimate is probably 75% from ATH); interest rates are likely to go up in the next 1-2 years making the debt these companies have more difficult to service; and most importantly, these stocks are momentum-driven, when investors realize the bull run is over I think many will not want to wait years to see new highs. All of this is skipping over the real possibility of any kind of stock market correction, minor or major, because we are close to ATHs in most markets.
RIOT, MARA, HUT, etc. are some of the companies I'm considering shorting next year, but some other users on here have made great bear cases for Coinbase and even Microstrategy.
I'd love to hear what everyone thinks!
Submitted October 13, 2021 at 11:38PM by Historical-Session66 https://ift.tt/3FHKAtj
