The analysts expect mining stocks to follow bitcoin and open positively on Monday after weeks of sideways price action.
Analysts at research and brokerage firm Bernstein said a “Goldilocks scenario” is emerging for bitcoin miners amid the “Trump factor” following a failed assassination attempt on the former U.S. President at a rally in Pennsylvania on Saturday.
Decentralized prediction market platform Polymarket’s odds on the winner of the U.S. presidential election now show a 71% chance for Trump — up from about 60% around the time of the incident — with President Joe Biden’s chances of victory at just 18%. Additional tailwinds for miners include an extensive pipeline of access to power, AI diversification opportunities and greater mining technology in the U.S., with Jack Dorsey's Block recently agreeing to supply Core Scientific with its new 3nm mining chip, the analysts said.
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