There’s a concept in baseball that a player is due for a home run or a significantly productive play — and that’s the argument I’m going to make for cryptocurrency miner Bitdeer Technologies (BTDR). While I don’t think this is such a controversial take, it must be disseminated with caution. After all, the Barchart Technical Opinion indicator rates BTDR stock as a 56% Weak Sell, noting concerns of a weakening short-term outlook.
Fundamentally, Bitdeer isn’t exactly generating much confidence either. According to Google Finance, BTDR stock has been under pressure due to the sideways nature of the underlying benchmark crypto price. Further, the website notes that “near-term hash rate competition and energy costs remain primary concerns.”
