Bitcoin. Is it “the new gold”? Is it a store of value? Is it a functional medium of exchange? Is it a digital collectible? Everyone has an opinion on the
Riot Blockchain stock plunges 20% following parabolic rally The crypto mining company has been on an absolute tear this month. On Thursday, the stock corrected sharply lower. 64192 Total views News
Shares of crypto mining company Riot Blockchain (RIOT) plunged on Thusday, giving back a portion of a parabolic rally that was largely driven by news of a major boost in hash rate capacity.
RIOT fell 20.4% to close at $62.03 on Thursday but was moving slightly higher in after-hours trading. At current values, RIOT has a total market capitalization of $4.2 billion, making it one of the largest companies in the blockchain industry.
The sharp pullback follows a more than doubling in price between Feb. 10 and Feb. 17. The weeklong rally saw RIOT peak just below $78.00 before Thursday’s pullback.
Predictions Point to Bitcoin Could Quadruple In 2021 Similar to the 2017 Parabolic Rally
- Financialnewsmedia.com News Commentary
PALM BEACH, Fla., Feb. 17, 2021 /PRNewswire/ Bitcoin was created in 2009 as the first decentralized currency to run on Blockchain technology. It has become notorious for price swings that often make news headlines and grab the attention of financial traders. It has also led to the creation of other digital currency such as Ethereum, Ripple XRP and Litecoin. Bitcoin even has other cryptocurrencies that were created when nodes chose not to upgrade to the latest protocol, creating a new currency out of Bitcoin s old protocols, such as Bitcoin Cash ABC. Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay. While some experts in the field see problems ahead with Bitcoin, while others still see the future as rosy as its past performances… with even higher projections. One suc
Along with Cannabis, Electric Vehicles, and 3D printers, the Cryptocurrency space is one of the leading emerging growth spaces in the stock market over recent weeks as the price of coins such as Ethereum and Bitcoin ramp to unprecedented levels on growing legitimacy and acceptance among established institutions, including Wall Street and corporate titans such as Tesla, PayPal, Microstrategy, and Square.
But the upside is still potentially huge given the possibility that Bitcoin could reach market cap parity with gold as the core alt-currency stores of value in the global asset landscape, where it still lags as just a fraction of the size of the classic yellow metal.