JPMorgan Claims Wall Street Undervalues Bitcoin Miners by 28%, Resulting in an $8 Billion Error
Faulty Valuations in Bitcoin Mining: JPMorgan analyst Reginald L. Smith highlights that the diluted share counts for major Bitcoin mining companies are significantly understated, leading to a combined market cap miscalculation of approximately $8 billion.
Impact of Stock Issuance: Mining companies have rapidly issued stock to fund various projects, but market data has not adjusted accordingly, resulting in investors undervaluing these companies.
Diverging Fortunes in the Sector: Companies like Cipher and CleanSpark are being positively recognized due to valuable HPC contracts, while Riot and Marathon are facing reduced price targets due to weaker Bitcoin economics.
Importance of Accurate Data: Smith emphasizes that incorrect share counts lead to flawed financial ratios and valuations, which are crucial for identifying genuine value in a sector undergoing significant business model changes.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36391.603 | 48195.801 | 61127.353 | 72931.551 | 85863.103 | 97667.301 | 110598.853 |
| Fibonacci | 48195.801 | 57644.858 | 63482.495 | 72931.551 | 82380.608 | 88218.245 | 97667.301 |
About BTC
About the author
