Bitcoin Booms... Miners Go Bust?

[] there’s more at play behind the scenes [View in browser]( [View in browser]( [] MARCH 13, 2024 [] [] PROSPERITY PUB MARKET TALK As Bitcoin Hits New Highs, Why Are Miners Sinking? If you’ve been paying attention to the crypto market, you’ve probably noticed an interesting conundrum: As Bitcoin has surged, hitting all-time-highs: [] Bitcoin miners — the public companies that “dig up” the digital currency — have been sinking: [] So we turned to the best crypto expert we know: Jeffry Turnmire to shed some light on this seemingly counterintuitive situation. Underlyings vs Derivatives He told us that while this seems to make no sense, we have to remember that Bitcoin is the underlying asset. And miners are a derivative of that. This even happens with gold and gold miners — as well as other assets. So it’s not a completely unusual situation when you look at it from that perspective. Ok simple enough, but why are they moving in concert? If they are all independent companies, shouldn’t at least some be moving up? Mining But Not Holding One force at play, he told us, is that while miners are essentially “digging up” the digital currency, not many miners are holding substantial amounts of Bitcoin. So when the price of Bitcoin skyrockets, the value of those companies doesn’t rise as you would expect because they aren’t holding the very asset they extract from the digital dirt. As a sort of counter-example, he mentioned MSTR which holds massive amounts of Bitcoin and has been skyrocketing lately along with BTC. A Game Changer He went on to remind us that earlier this year something happened that changed the game completely: The SEC approved a slew of spot Bitcoin ETFs. This allowed traders of all stripes to invest in Bitcoin directly — without the need for a separate account on a crypto exchange or a crypto wallet. And when this happened, it changed the calculus for many investors: Instead of having to use Bitcoin miners as “proxy” for playing Bitcoin, they could now invest directly in those spot ETFs. This alone is sucking a lot of money out of the miners as it flows into spot ETFs. But There’s Hope… Jeffry quickly added that MARA, HUT, RIOT and CIFR (perhaps others) have bounced today. MARA, in particular, seems to have found a solid bottom. And it’s to the point where he’s done something he has recommended against previously: buying a short term (about 40 days) MARA call option a few strikes out of the money. As he’s mentioned many times on his [various YouTube shows]( he’s been long MARA for quite a while — and continues to be very bullish on it for the long term. That doesn’t mean all the miners will survive or even thrive. He’s mentioned that there are several factors unique to the company that caused him to back MARA. We’ll have to fill you in on those details another time. — The Prosperity Pub Team [] [] ☢ [ALERT] Nuclear is a BUY! ☢ This Friday, commodity expert Geof Smith is giving out the TWO tickers behind his best “Nuclear Trade” — absolutely FREE! See how he plans to target what could be a 100% ROI by the end of the month… even if the trade goes against his prediction! [Register your spot NOW for this urgent briefing!]( [] [] GUY COHEN’S TRADE RADAR “You Can Remain Overbought For Quite Some Time… As We Have Done” Last week we got the new highs that we anticipated, but Friday was one of those days that could herald a blow-off top… but we have to get confirmation first. It’s by no means certain at this stage, but with Nvidia finally having a sell-off bar, that could be the beginning of the end of the recent bullish run. [Click here to watch now!]( Follow the money, — Guy Cohen [] [] [] [] MARCH 13, 2024 [] [] PROSPERITY PUB MARKET TALK As Bitcoin Hits New Highs, Why Are Miners Sinking? If you’ve been paying attention to the crypto market, you’ve probably noticed an interesting conundrum: As Bitcoin has surged, hitting all-time-highs: [] Bitcoin miners — the public companies that “dig up” the digital currency — have been sinking: [] So we turned to the best crypto expert we know: Jeffry Turnmire to shed some light on this seemingly counterintuitive situation. Underlyings vs Derivatives He told us that while this seems to make no sense, we have to remember that Bitcoin is the underlying asset. And miners are a derivative of that. This even happens with gold and gold miners — as well as other assets. So it’s not a completely unusual situation when you look at it from that perspective. Ok simple enough, but why are they moving in concert? If they are all independent companies, shouldn’t at least some be moving up? Mining But Not Holding One force at play, he told us, is that while miners are essentially “digging up” the digital currency, not many miners are holding substantial amounts of Bitcoin. So when the price of Bitcoin skyrockets, the value of those companies doesn’t rise as you would expect because they aren’t holding the very asset they extract from the digital dirt. As a sort of counter-example, he mentioned MSTR which holds massive amounts of Bitcoin and has been skyrocketing lately along with BTC. A Game Changer He went on to remind us that earlier this year something happened that changed the game completely: The SEC approved a slew of spot Bitcoin ETFs. This allowed traders of all stripes to invest in Bitcoin directly — without the need for a separate account on a crypto exchange or a crypto wallet. And when this happened, it changed the calculus for many investors: Instead of having to use Bitcoin miners as “proxy” for playing Bitcoin, they could now invest directly in those spot ETFs. This alone is sucking a lot of money out of the miners as it flows into spot ETFs. But There’s Hope… Jeffry quickly added that MARA, HUT, RIOT and CIFR (perhaps others) have bounced today. MARA, in particular, seems to have found a solid bottom. And it’s to the point where he’s done something he has recommended against previously: buying a short term (about 40 days) MARA call option a few strikes out of the money. As he’s mentioned many times on his [various YouTube shows]( he’s been long MARA for quite a while — and continues to be very bullish on it for the long term. That doesn’t mean all the miners will survive or even thrive. He’s mentioned that there are several factors unique to the company that caused him to back MARA. We’ll have to fill you in on those details another time. — The Prosperity Pub Team [] [] ☢ [ALERT] Nuclear is a BUY! ☢ This Friday, commodity expert Geof Smith is giving out the TWO tickers behind his best “Nuclear Trade” — absolutely FREE! See how he plans to target what could be a 100% ROI by the end of the month… even if the trade goes against his prediction! [Register your spot NOW for this urgent briefing!]( [] [] GUY COHEN’S TRADE RADAR “You Can Remain Overbought For Quite Some Time… As We Have Done” Last week we got the new highs that we anticipated, but Friday was one of those days that could herald a blow-off top… but we have to get confirmation first. It’s by no means certain at this stage, but with Nvidia finally having a sell-off bar, that could be the beginning of the end of the recent bullish run. [Click here to watch now!]( Follow the money, — Guy Cohen [] [] [] [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub](