Last Updated on October 1, 2022 by Mathew Diekhake
Bitcoin mining and energy company CleanSpark gave up all of August’s gains in September. CleanSpark was as low as $4.00 at the beginning of August and rose up to $6.84 before it started its decline again to where it closed on Friday at $3.18, leaving many investors the chance to buy it low again.
The indices are oversold in general, but it’s not clear which way they will go heading into next week due to there being so much news lately that has the chance to change the market sentiment. The market was already meant to have bounced, but Liz Truss’s surprise decision to cut taxes on the rich was not viewed favorably by the market due to additional inflation concerns.
However, it is more likely than not that the market will rise from these oversold positions over the next few weeks. And if that occurs, it may leave investors with the chance to buy CleanSpark cheaply again. If the market does bounce, CleanSpark could rise to the $4.39 area but isn’t likely to reach the previous price of $6.84 again until the bear market is over.
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