Historical Stock Analysis: $BITF and the Crypto Theme of 2023

An in-depth review of Bitfarms Ltd. and a deeper look at the 2023 Crypto & Bitcoin theme!

---

Index:

• Historical Stock Analysis: Crypto Theme of 2023

  • MARA Holdings Inc. ( MARA 0.00%↑ )

  • Riot Platforms Inc. ( RIOT 0.00%↑ )

  • Bitfarms Ltd. ( BITF 0.00%↑ )

  • TeraWulf Inc ( WULF 0.00%↑ )

  • Bitdeer Technologies Holding Co ( BTDR 0.00%↑ )

  • HIVE Digital Technologies Ltd ( HIVE 0.00%↑ )

---

This will be an exclusive weekly post series in which I drill down into a historical theme in the markets and dissect the basket of stocks related to that theme. The goal is to contextualize each example and place oneself back in that time period to remove as much hindsight bias as possible so that we can learn from past setups and apply them to future stocks!

Each example will go over a particular setup of a stock in the “hot” theme at the time. We continue the theme of 2023 cryptocurrency. Let’s jump into it…

---

Company Information:

Ticker: BITF 0.00%↑

Company Name: Bitfarms Ltd.
Sector: Financial
Industry: Capital Markets
Market Cap (at time of setup): SmallCap ($200M-2B)
Float (at time of setup): 208M

News Releases:

$BITF - News Releases

---

Theme and Trend Analysis:

• Week of June 12, 2023 - BlackRock (the largest asset management company in the world) filed an application for what would be the first-ever spot Bitcoin ETF in the U.S. The application came a week after the SEC sued two of the biggest crypto exchanges, Binance and Coinbase.