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Barclays Remains Positive on Bitcoin, Sees Miner Core Scientific as ‘Best-In-Class Leverage Play’
Will Canny is CoinDesk’s finance reporter. Barclays (BCS) says it remains positive about the long-term viability of bitcoin (BTC), and views bitcoin miner Core Scientific (CORZ) as a “best-in-class, leveraged play on the crypto ecosystem.” The crypto winter has clearly been rough for miners, who have seen profit margins shrink as bitcoin prices plunged more than 50% this year, while power prices soared and capital dried up. Despite this difficult macro backdrop, Barclays sees compelling risk/reward for Core at current levels. The shares of crypto hosting and mining company rose about 9.5% in premarket trading on Tuesday, amid a rally […]
Bitcoin remains above $20k as the crypto market adds 2% to its value
Bitcoin The cryptocurrency market has had a positive start to the week, adding more than 2% to its value in the last 24 hours. The cryptocurrency market ended the previous week with a win and is starting this new week with positive performances. The total cryptocurrency market currently stands at around $920 billion, up by more than 2% in the last 24 hours. Bitcoin, the world’s leading cryptocurrency by market cap, has underperformed over the past 24 hours. BTC is down by less than 1% since the start of the day and continues to trade above the $20k level. Despite […]