Analyst: Buy the Dip in Bitcoin Mining Stocks, Major Price Rally Ahead
• Bernstein says buy the dip in bitcoin mining stocks ahead of a BTC price "inflection point" in the next 2 months
• Mining stocks have underperformed recently due to lower investor appetite and weaker BTC price
• The underperformance provides a buying opportunity as stocks will offer higher beta to the next BTC price increase
• There may be further BTC price weakness to $38K-$42K range before structurally going long ahead of 2024 halving event
• Bernstein recommends outperform-rated mining stocks Riot Platforms and CleanSpark