MARA Stock Soars: Is Marathon Digital a Buy?

• Marathon Digital (MARA) stock price surged to the highest level since November 2022 due to the rebound of Bitcoin prices and TradFi.
• Blackrock, Invesco and WisdomTree announced their Bitcoin ETF filings while Deutsche Bank and Credit Agricole applied for crypto custody licenses.
• The future price action of MARA will depend on whether Bitcoin moves above $31,000, which is the upper side of the double-top pattern.


Marathon Digital (MARA) share price soared to the highest level since November as Bitcoin and other cryptocurrencies roared back. MARA shares jumped to a high of $12.75, meaning it has soared by more than 319% from the lowest level in December. Other bitcoin mining companies in the industries like Riot Platform and Hut 8 Mining also surged.


The main reason why MARA stock price soared is that Bitcoin price neared the highest point this year. This rebound happened as the crypto fear and greed index soared to the greed area. Most analysts believe that the ongoing trend of TradFi is the main driving factor for Bitcoin prices. TradFi refers to a situation where traditional finance companies move to the crypto industry. On Friday, Blackrock, the biggest asset manager in the world, announced that it had applied for iShares Bitcoin Trust with SEC – an ETF tracking spot BTC prices similar to Vanguard Gold Trust. Other large companies in industry also unveiled their ETF filings including Invesco & WisdomTree while banks like Deutsche Bank & Credit Agricole received crypto custody license hoping to take care of wealthy Europeans seeking access into industry.


Analysts believe that Marathon Digital stock price will depend on whether BTC moves above $31,000 which is key resistance level since its upper side of double-top pattern – if rises then means double-top pattern has been invalidated & could lead further appreciation in MARA shares so far its been slow bullish trend on daily chart since start of 2021 & looks like this may continue if bulls remain strong at mentioned key resistance level showing no signs of exhaustion or weakness anytime soon!


Blackrock, Invesco and WisdomTree all announced their respective Bitcoin ETF filings with SEC which could be approved this time around as pressure mounts over regulator from investors who are eager get exposure into digital assets without having purchase coins directly but through regulated vehicle instead giving them peace mind knowing theyre not vulnerable any malicious activities taking place outside official network once funds are moved out exchange wallets!


Deutsche Bank applied for a crypto custody license in Germany while Credit Agricole got itself one French banking giant hopes take care wealthy Europeans seeking access industry bring much needed trust & confidence these markets need order attract institutional investors willing put their money work longer term rather short term speculation seen past few years!