Cipher

Bitcoin

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>These two Bitcoin stocks, BITF stock and CIFR stock outperformed in YTD price analysis.</a> </li> 
 <li> <span>2</span> <a>As per YTD price analysis, BITF and CIFR stock prices may continue their bullish journey in the coming months.</a> </li> 
</ul> 
<p>The two Bitcoin stocks, Bitfarms Ltd. (NASDAQ: BITF) and Cipher Mining Inc. (NASDAQ: CIFR) showed outstanding YTD price analysis. BITF stock and CIFR stock prices rose over 150% and 300% in year-to-date (YTD) price analysis, respectively. Their price surge was somewhat supported by the Bitcoin (BTC) price that almost traded above its trading price range of $19K. At press time, BTC is trading at $26,593.39, down by 0.56% in the last 24 hours.</p> 
<h2 class="wp-block-heading" id="strong-outstanding-performance-of-2-bitcoin-stocks-strong"><strong>Outstanding Performance of 2 Bitcoin Stocks</strong></h2> 
<p>Since the beginning of 2023, BTC showed mostly bullish sentiments that further supported Bitcoin stocks to move upside. In YTD price analysis, BITF stock rose nearly 153% whereas CIFR stock rose almost 315%. The upside-rising chart of these 2 Bitcoin stocks indicates their last bullish performance. It is expected to stay in their upcoming trading sessions.</p> 
<p>Notably, in the last 1 month, both Bitcoin stock prices have been showing a bearish trend. BITF stock fell over 14% while CIFR stock price dropped over 5% in a month.</p> 
<h3 class="wp-block-heading" id="strong-bitf-stock-price-analysis-strong"><strong>BITF Stock Price Analysis</strong></h3> 
<p>BITF stock price has been performing bearish for the last 1 month, while in its recent trading session, the stock price closed at $1.09 with over 2% price decline. The stock price dropped from its 20-day EMA whereas its RSI reached nearly its overbought zone.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/4wisL6j_Z-TOp43EwWWjGHvab1m36DeH5niRXbZqZkXdOkn_6HGEwQ_FCAgEftqArCGFYfGLIklFJlou7nu3egTkTp77A1hh30V0zHp2x5vElr_XJOxPUHue46CaCHE6IHTJL-HGT0Zkc9F_NrXMWiI" alt="Will These 2 Bitcoin Stocks Outperform in the Upcoming Months?"> 
  <figcaption class="wp-element-caption"> <strong>Source: BITF/USD by </strong><a href="https://www.tradingview.com/x/QFrTaoMO/" rel="noopener noreferrer nofollow"><strong>TradingView</strong></a> 
  </figcaption> 
 </figure> 
</div> 
<p>After the recent quarter result that was not positive, BITF stock started gaining bears’ dominance. However, from the recent closing price, a bounce-back in its price is expected.</p> 
<p>Bitfarms Ltd. released its Q2 2023 report earlier last month that states its earnings per share (EPS) is negative $0.10 whereas the estimation was negative $0.05 which accounts for a negative 87.50% surprise. Its revenue for the same quarter amounts to $35.48 Million despite the estimated figure of $34.60 Million.</p> 
<h3 class="wp-block-heading" id="strong-cifr-stock-price-analysis-strong"><strong>CIFR Stock Price Analysis</strong></h3> 
<p>CIFR stock price showed a bearish trend for the last month, while in its recent trading session, it noted closing at $2.66, with a 0.75% decline. As bears increased their trading activity in CIFR <a href="https://www.thecoinrepublic.com/2023/01/20/crypto-mining-stocks-are-roaring-back-after-bitcoin-price-surge/" rel="noopener noreferrer nofollow">stock </a>price, its price also slid from its 20 and 100-day EMA. This led its RSI near the oversold zone.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/3lwTMKZxqZRthmndJF0FyJ0opv1aXRm-c4yRvMI8Xr7pgPOO0yGC1FQ7Wo2uudUJg8pGvj4S4uEKvx5abZyuZZQHbYe48yBySWDWh5we076kUD13MhWsiGuIMcwG0nLQOESc_3kaSi2YPmiGgLjLRpk" alt="Will These 2 Bitcoin Stocks Outperform in the Upcoming Months?"> 
  <figcaption class="wp-element-caption"> <strong>Source: CIFR/USD by </strong><a href="https://www.tradingview.com/x/rakkzzND/" rel="noopener noreferrer nofollow"><strong>TradingView</strong></a> 
  </figcaption> 
 </figure> 
</div> 
<p>The recent earnings report released by Cipher Mining Inc. was also not positive which affected its trading price. The recent closing of stock was nearing its 200-day EMA which may take a u-turn in the upcoming sessions.</p> 
<p>Earlier in August 2023, Cipher Mining Inc. released its Q2 2023 report. According to that, its earnings per share (EPS) is negative $0.05 whereas the estimation was $0.03 which accounts for a negative 92.31% surprise. Its revenue for the same period amounts to $31.22 Million despite the estimated figure of $32.41 Million.</p> 
<p>The YTD performance of both these Bitcoin <a href="https://www.thecoinrepublic.com/2023/08/18/riot-stock-mara-stock-mining-stocks-plummet-as-bitcoin-falls/" rel="noopener noreferrer nofollow">stocks </a>shows an outstanding price surge. On the other hand, its recent 1-month price performance shows the opposite performance. However, this recent bearish trend may not stay for a longer time period. A bounce-back in these stocks’ prices is highly expected in upcoming months that boost their price upside.</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.</p>

Will These 2 Bitcoin Stocks Outperform in the Upcoming Months?

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