Gooood old RIOT.
So back in late September, and early October 2024 I began positioning myself in RIOT and set a target of 6-12 month at around 45$. Although i am up 79% and will soon be able to take advantage of long-term capital gains tax. RIOT has not performed as well as I thought it would.
The miner leveraged BTC strategy from last cycle has not worked out, difficult business model, and macroeconomic issues plus competition from ETFs has made it difficult for miners overall. Other miners have been able to capitalize on AI and data centers, and it seems like RIOT along with MARA have been left behind but i think things can quickly turn around here.
Despite the pessimism RIOT looks like its in a really good spot as we are seeing a technical breakout along with optimism in 2-3 rate cuts for the remained of the year. I also don't believe the BTC top is in yet and think a final leg can help push RIOT up.
Ill be planning to offload my position little by little sometime within these last 3 moths of 2025 depending on how things go. At a market cap of only 6.50 B a 2x from here is certainly NOT unreasonable. Therefore, I'm readjusting my target from 45$ to around 35$ by EOY.
Good luck
So back in late September, and early October 2024 I began positioning myself in RIOT and set a target of 6-12 month at around 45$. Although i am up 79% and will soon be able to take advantage of long-term capital gains tax. RIOT has not performed as well as I thought it would.
The miner leveraged BTC strategy from last cycle has not worked out, difficult business model, and macroeconomic issues plus competition from ETFs has made it difficult for miners overall. Other miners have been able to capitalize on AI and data centers, and it seems like RIOT along with MARA have been left behind but i think things can quickly turn around here.
Despite the pessimism RIOT looks like its in a really good spot as we are seeing a technical breakout along with optimism in 2-3 rate cuts for the remained of the year. I also don't believe the BTC top is in yet and think a final leg can help push RIOT up.
Ill be planning to offload my position little by little sometime within these last 3 moths of 2025 depending on how things go. At a market cap of only 6.50 B a 2x from here is certainly NOT unreasonable. Therefore, I'm readjusting my target from 45$ to around 35$ by EOY.
Good luck
Note
if things get heated i will be looking at these target to scale out back in 2017 and 2020, RIOT was able to grow RAPIDLY over 600% in that last quarter of the year and i believe it isn't unreasonable to target another 50-100% gain from current levels
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.