Bitcoin’s highest jump in 21 months benefits Marathon Digital
- Marathon Digital’s stock surges 10.6% as bitcoin surpasses $45,000
- Bitcoin’s jump above $45,000 is the highest in 21 months
- Marathon’s stock rally follows a 24.4% decline in the last two days of 2023
- Correlation coefficient between Marathon’s stock and bitcoin improves in Q4 2023
Shares of Marathon Digital Holdings Inc. surged 10.6% as bitcoin surpassed the $45,000 level for the first time in 21 months. This rally comes after a 24.4% decline in Marathon’s stock at the end of 2023. However, the correlation coefficient between Marathon’s stock and bitcoin improved in Q4 2023. Marathon’s stock had a remarkable 586.8% increase in 2023, outperforming bitcoin’s 153.0% rise and the S&P 500’s 24.2% gain.
Public Companies: Marathon Digital Holdings Inc. (MARA), S&P 500 (SPX)
Private Companies:
Key People:
Factuality Level: 7
Justification: The article provides factual information about the stock price of Marathon Digital Holdings and its correlation with the price of bitcoin. It also includes data on the performance of Marathon’s stock and bitcoin in previous years. However, the article does not provide any analysis or context beyond the correlation between the stock and bitcoin, and it does not address any potential risks or challenges that Marathon Digital Holdings may face.
Noise Level: 3
Justification: The article primarily focuses on the stock performance of Marathon Digital Holdings Inc. in relation to the price of Bitcoin. It provides some data on the correlation coefficient between the stock and Bitcoin, as well as their respective performance in 2023. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article also does not explore any long-term trends or consequences of the stock’s rally. Overall, it contains some relevant information but lacks substance and fails to meet several criteria for a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: Cryptocurrency market
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the surge in shares of Marathon Digital Holdings Inc. due to the rise in the price of Bitcoin. This information is relevant to financial markets, specifically the cryptocurrency market.
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