Brokerage firm Bernstein said in a research note on Wednesday that the "miner fear factor" is at its peak ahead of the upcoming halving, recommending investors buy outperforming crypto mining companies Riot Platforms (RIOT) and CleanSpark (CLSK) stocks.
Bernstein noted that crypto mining stocks continue to underperform Bitcoin so far this year as the halving raises concerns about profitability once the reward is cut by 50%.
Analysts Gautam Chhugani and Mahika Sapra wrote: "Historically, Bitcoin price breakouts always occur after halving events, sometimes several months after the halving...Once mining hashrate adjusts to lower return levels and ETF inflows resume, Bitcoin's bullish trajectory will resume after the halving." (CoinDesk)