Is it likely riot will keep going up ?
Unfortunately nobody knows that for sure or everyone would be rich. If you think crypto is the future and you think Riot is positioned well vis-a-vis the other miners then buy, otherwise don’t.
It’s not looking so good . Any advice on whether it might go back up ?
The price of Riot is heavily influenced by sentiment towards the BTC price. Mining revenue is huge at the moment, better than last month, so the fundamentals haven’t changed just the sentiment.
Wait until the next parabolic rise of the BTC price and Roit should follow suit.
Put Riot Blockchain into Twitter search that will give u idea of how it’s doing
I presume the same applies for marathon digital. My investment in marathon dropped 30% this week! I pulled out of Riot block chain 2 weeks ago because that started dropping like a stone as well!
Thanks for the tip about following them on Twitter.
Great to see this stock consistently loosing a steady 5-10% even with BTC price soaring
Cannabis stocks are way to go:ok_hand:
Why is riot consistently down ? All my research suggests they should be doing good ??
Honestly I do not understand. Consistently -6/7 % everyday. It is much lower than when BTC was 36k.
Nightmare. I am totally small time but I don’t have much money to burn . So hard to know whether to hold or cut losses. Anyone got any advice ?
This might not help much since we don’t really give financial advice here, but it’s a very risky stock. So large price volatility is to be expected.
If you already hold a core portfolio, you’ll find the worry goes away on your smaller speculative positions. The smaller speculative positions still require a long game because you have no real idea on when your speculation sector will enter its heyday.
If you do not hold a core portfolio or holding already and you are building individual stock positions, make sure you have a strategy on % allocations and risk. Literally obsess over the word risk, how much risk and I taking overall?
There is not a person on this planet (or youtube) that can tell you anything of much value in regards to what to do with a stock. That’s why a strategy will help long term.
All these blockchain miners are suffering from a market rotation right now. It’s painful, but unfortunately literally no one knows what is going to happen. They may find favour again as Bitcoin rises but we can’t say for certain.
Definitely but the price of Bitcoin has been quite steady around £39k-42k, whilst riot is down more than when BTC was 35k.
I think this explains it, the margin Riot and other miners make is much of a muchness when Bitcoin is between £39-42k. Therefore the fact the SP is falling must be due to some other factor, such as a general market rotation into ‘safer’ stocks or other cryptos e.g ethereum. The hype around miners has well and truly dissipated for now at least.
I think you have had people buying these miners who shouldn’t be here. Happens with every hyped industry. Then at the first sign of trouble they sell and move on, rather than commit.