As I've pointed out in the chart, every major move that has occurred in BTC has come on the back end of a RIOT Blockchain move.
The 2 are obviously correlated, and picking through the price history dating back to the major dump of 2018, I've noticed RIOT always goes first, whether it be up or down.
This has happened perfectly in sync since RIOT has actually started mining BTC.
Currently, RIOT has already started a bullish breakout and is up about 54% since the local low. BTC on the other hand is currently up about 9% from it's local low.
RIOT will be very important to pay attention to going forward, as they have a large amount of their shares owned by institutions, as well as close to 2% ownership of the BTC hashrate coming soon.
Just wanted to point this out! Always good to find an edge somewhere ;)
it's probably one of the best crypto companies to follow since they haven't went thru a split. Do you think this has anything to do with the fact that China's mining facilities have been shut down and shipped to the US.
CASHLESSSOCYS
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@dmart120120, I'm sure China migration will have an effect on the mining industry as a whole, but I personally don't play too much into the news narratives. They're usually misleading at best, and contrarian indicators. However, I know RIOT buys its miners from Bitmain, which is a Chinese company. China controls everything about BTC mining. They make the majority of the miners.
Mobobobo
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Interesting, so are you really looking at miner profitability then?
CASHLESSSOCYS
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@Mobobobo, I only trade RIOT because it does whatever BTC does, but in higher percentages. I don't look at earnings, etc. However, if you believe in BTC mining long term, then this company only goes up from here.
the.code.sergeant
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Very interesting! Thanks for sharing!
MPH_
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I thought it was the other way around...? RIOT is dependent upon BTC, not vice versa. Always drops/rises after BTC.