Seeking Alpha
2021-12-12 22:18:00

How will crypto miners fare with weaker Bitcoin prices heading into 2022?

Crypto miner stocks appear to be closing out the year with substantial gains so far as bitcoin (BTC-USD) jumps 164% Y/Y; however, money managers are saying the world's largest digital token is poised for a large selloff in 2022, Bloomberg cites a survey done for Natixis Investment Managers. The expected drop in bitcoin (BTC-USD) next year comes at a time when an increasing amount of institutions around the globe enter the digital asset space amid rising client interest. In the meantime, 28% of all institutions surveyed now invest in cryptos, with nearly a third of that group planning to increase their crypto allocations next year, Bloomberg notes. Still, shares of crypto miners like Marathon Digital (NASDAQ:MARA), Riot Blockchain (NASDAQ:RIOT) and HIVE Blockchain (NASDAQ:HIVE) decline substantially over the past month as bitcoin (BTC-USD) is on pace for its fourth consecutive weekly correction from its October all-time high. "Bitcoin is still seen

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