BMNR is in competition to become the single largest ETH treasury globally with a slightly different twist - staking for a 2-5% annual return + performance. Just like
SBET, BMNR are diluting their stock to raise capital to additional purchases. This was announced a couple of weeks ago and has not yet concluded. I expect the gaps to be filled before it really takes off.
Ideally the first gap completes at $7.92 which would be a perfect 61.8 fib retracement (EWT Target), however, if we go this low, I naturally would expect the lower gap to be taken out or at least entered.
Lower gap: $5.10 to $6.13
Higher gap: $7.92 to $12.30
If this plays out, it will be a generational buying opportunity. Like buying
MSTR at $11. Cathie Wood (
ARKK) also made large purchases of this stock via several of her ETF's. If we follow her trend of poor buying decisions from a technical perspective, then we can certainly expect a large discount on this stock. History has a tenancy of repeating itself. Not financial advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.