MARA stock price: Marathon Digital Holdings reverses downward trend as Bitcoin price plummets
Premium|Take advantage of 50% OFF on your first month.
50% OFF and access to ALL our articles and insights.
You have reached your limit of 5 free articles for this month.
Take advantage of the Special Price just for today!
50% OFF and access to ALL our articles and insights.
Subscribe to Premium- NASDAQ:MARA gained 3.99% on Friday amidst a broader market rally into the weekend.
- Bitcoin and other cryptocurrencies continue to fall following President Biden’s capital gains tax proposal.
- Marathon is set to present at the H.C. Wainwright Cryptocurrency Conference at the end of April.
NASDAQ:MARA has been a popular play for retail investors who are looking to get exposure to Bitcoin in their stock portfolios, rather than buying the benchmark cryptocurrency itself. On Friday, Marathon Digital Holdings rebounded from a sell off on Thursday and added 3.99% to close the trading day at $32.30. It has been a roller coaster ride for Marathon shareholders, as the Bitcoin mining company boasts a 52-week trading range of $0.41 to $57.75, although momentum has tapered off lately as the stock is trading below its 50-day moving average.
Stay up to speed with hot stocks' news!
Much of the volatility that affects Marathon’s stock has to do with its direct link to the price of Bitcoin which fluctuates 24 hours a day, seven days per week. Bitcoin and other major cryptocurrencies like Ethereum, Bitcoin Cash, and Cardano, have all been mired in a correction that seems to have been spurred by President Biden’s recent capital gains taxation proposal. Bitcoin’s surge in price over the past year has produced a large number of so-called Bitcoin millionaires, so the number of people who fall within the $1 million threshold that will see a higher tax rate. The crypto market has lost an estimated $200 billion in market cap since the announcement was made.
MARA Stock news
Marathon will also be one of the presenters at the upcoming Cryptocurrency, Blockchain, and FinTech conference held by investment firm H.C. Wainwright at the end of April. Marathon CEO Merrick Okamoto is set to participate in a crypto mining panel on technology, flexibility, and sustainability.
- NASDAQ:MARA gained 3.99% on Friday amidst a broader market rally into the weekend.
- Bitcoin and other cryptocurrencies continue to fall following President Biden’s capital gains tax proposal.
- Marathon is set to present at the H.C. Wainwright Cryptocurrency Conference at the end of April.
NASDAQ:MARA has been a popular play for retail investors who are looking to get exposure to Bitcoin in their stock portfolios, rather than buying the benchmark cryptocurrency itself. On Friday, Marathon Digital Holdings rebounded from a sell off on Thursday and added 3.99% to close the trading day at $32.30. It has been a roller coaster ride for Marathon shareholders, as the Bitcoin mining company boasts a 52-week trading range of $0.41 to $57.75, although momentum has tapered off lately as the stock is trading below its 50-day moving average.
Stay up to speed with hot stocks' news!
Much of the volatility that affects Marathon’s stock has to do with its direct link to the price of Bitcoin which fluctuates 24 hours a day, seven days per week. Bitcoin and other major cryptocurrencies like Ethereum, Bitcoin Cash, and Cardano, have all been mired in a correction that seems to have been spurred by President Biden’s recent capital gains taxation proposal. Bitcoin’s surge in price over the past year has produced a large number of so-called Bitcoin millionaires, so the number of people who fall within the $1 million threshold that will see a higher tax rate. The crypto market has lost an estimated $200 billion in market cap since the announcement was made.
MARA Stock news
Marathon will also be one of the presenters at the upcoming Cryptocurrency, Blockchain, and FinTech conference held by investment firm H.C. Wainwright at the end of April. Marathon CEO Merrick Okamoto is set to participate in a crypto mining panel on technology, flexibility, and sustainability.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.