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Top related persons:
it's - 2 bitcoin - 2 Wainwright - 2 Mike Colonnese - 2 — CNBC's Michael Bloom - 2 Wolfe - 1 Rob Ginsberg - 1 Colonnese - 1
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U.S - 1 Metrics - 1 CNBC - 1 Wolfe Research - 1 Marathon - 1 Iris Energy - 1 Cipher Mining - 1 Miners - 1

Search resuls for: "Mike Colonnese"


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☆ Bitcoin price may not retest this year's highs for another five months
  + stars: | 2024-05-10 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
"It could take three to five months for bitcoin to re-test recent highs," H.C. Wainwright analyst Mike Colonnese told CNBC. BTC.CM= 3M mountain Bitcoin has fallen 11% this quarter Bitcoin miners offer high beta exposure to bitcoin and have historically outperformed it during bull cycles, he added. Colonnese also pointed out that corrections between 25% and 30% are "par for the course" for bitcoin, even in bull cycles. "Looking at previous price cycles, bitcoin has historically peaked between one to one and a half years after a halving event with the bull stage running longer in each subsequent cycle," Colonnese said. "Assuming a similar duration for this bull stage of the price cycle, bitcoin may not reach its cycle peak until October 2025," Colonnese added.
Persons: it's, bitcoin, Wainwright, Mike Colonnese, Wolfe, Rob Ginsberg, Colonnese, Bitcoin, It's, — CNBC's Michael Bloom Organizations: U.S, Metrics, CNBC, Wolfe Research
☆ Bitcoin miners’ main revenue stream is about to be slashed. Here’s what investors need to know
  + stars: | 2024-04-17 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
The bitcoin halving is set to take place in the next few days, which will cut miners' main stream of revenue in half. "We believe a bitcoin price above $60,000-$65,000 means the halving is de-risked for nearly all public miners," Needham analyst John Todaro wrote in a note to clients on Tuesday. It currently costs miners between $36,000 and $52,700 to mine a single bitcoin, Todaro said. Miners offer amplified exposure to bitcoin's price action, which has been more volatile since the launch of bitcoin ETFs introduced more leverage to the market. "That's propelled bitcoin to a threshold where the miners are really generating healthy economics," said Colonnese.
Persons: —, Needham, John Todaro, Todaro, Iris, Mike Colonnese, Wainwright, Iris Energy, bitcoin, it's, — CNBC's Michael Bloom Organizations: Marathon, Iris Energy, Cipher Mining, Miners, H.C, Iris, JPMorgan Locations: exahash
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