Ethereum

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BTBT stock is declining constantly in a week it lost 7.38% and in a month a decline of 41.63% was noticed.&nbsp;</a> </li> 
 <li> <span>2</span> <a>In the 52-week time frame, BTBT stock price traded highest at $4.80 and its lowest trading price was $0.53.</a> </li> 
 <li> <span>3</span> <a>Bit Digital, Inc. has a market capitalization of $214.272 Million, last December, the market cap was $1.05 Billion.&nbsp;</a> </li> 
</ul> 
<p>BTBT stock seems to be trading below $1 since January 3, 2023 on January 1 a nominal surge of 2% was seen which helped the stock to cross the hurdle of $1. After analyzing the technical aspects of Bit Digital Inc. it was noticed that a sudden spike in the trading price started on June 12 and till now prices are following a similar pattern.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-btbt-stock-price-analysis-strong"><strong>BTBT Stock Price Analysis&nbsp;</strong></h2> 
<p>In the 52-week time frame, BTBT stock price traded highest at $4.80 and its lowest trading price was $0.53.&nbsp; At the time of publication, BTBT stock was trading at $2.50 and it opened 3.10% below its previous closing price.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/TVAgCgSiR2gJNR3UQEONfn0hABjqyD1ftRey1sHHFc-Qpgjwi9YHgXbcIuDQVvt5LIOTzvtAfeYYaHS55McCzb6J-7T0iw40MmgD1yqO7htbkTKycaZ6VrYgAn82gSusCQ-v4id6q86P-1Ua6igvJaM" alt="Negative Revenue Leading to Decline; BTBT Stock Lost 40%&nbsp;"> 
  <figcaption class="wp-element-caption">
    Source: BTBT stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>The RSI is roaming just above the oversold territory and seems to be seeking an opportunity to cross the signal line. The MACD reflects a negative movement and suggests that sellers are more active compared to sellers.&nbsp;</p> 
<p>In the monthly trading range, Bit Digital, Inc. share lost 7.38% of its trading price and a major decline of 41.63% was seen in the monthly time frame. Despite short-term losses, BTBT <a href="https://www.thecoinrepublic.com/2023/07/19/pgr-stock-price-analysis-after-its-second-quarter-2023-result/" rel="noopener noreferrer nofollow">stock price</a> surged over 109% in the past six months and approximately 304.84% in the Year-to-Date range.&nbsp;</p> 
<p>BTBT stock has an annual price target of $4.13 which is 64.02% higher than its current trading price. Bit Digital, Inc. has a market capitalization of $214.272 Million, and its shares’ average trading volume is 3.576 Million.&nbsp;</p> 
<p>In December 2022, the market cap of Bit Digital Inc. was $1.05 Billion, and since then a constant decline in the market cap has been seen. In comparison to 2022, a surge of 348% is reflected by the market cap of the company.&nbsp;</p> 
<p>In terms of market capitalization, Bit Digital Inc. is the 6489th most valuable company in the world. Bit Digital, Inc. engages in the digital asset mining business and Ethereum staking activities. The company was founded in November 2015 and is headquartered in New York, NY.&nbsp;</p> 
<p>According to TradingView, over 84 Million BTBT shares are free-floating, and the remaining shares are closely held either by financial backers of the company or the board of members.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-bit-digital-inc-financial-updates-strong"><strong>Bit Digital Inc. Financial Updates</strong></h2> 
<p>Analysts estimates suggest that the company was supposed to report $10.48 Million in Q2, 2023 in revenue but it failed to meet the expectation and reported 14.15% less revenue. For the third and fourth quarter of 2023, the company is expected to report $11.87 Million and $15.53 Million in revenue.&nbsp;&nbsp;</p> 
<p>In the financial year 2022, the company reported an overall income of $32.30 Million from which its gross profit was -49%, earnings before interest, taxes, depreciation, and amortization (EBITDA) was -35%, earnings before interest and taxes (EBIT) are -121% and net income was -326%.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>After analyzing the technical aspects of BTBT <a href="https://www.thecoinrepublic.com/2023/07/19/pgr-stock-price-analysis-after-its-second-quarter-2023-result/" rel="noopener noreferrer nofollow">stock</a> it is noted that the negativity in short might soon get eroded and a reversal might be seen towards its nearest resistance. In terms of market capitalization, Bit Digital Inc. is the 6489th most valuable company in the world.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Negative Revenue Leading to Decline; BTBT Stock Lost 40%

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Thecoinrepublic.com

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