Riot Blockchain Inc (RIOT) stock showed a decline in afterhours with no reason or news available to point for the activity. RIOT Blockchain is the largest publicly traded bitcoin miners in North America, with their main focus towards supporting the bitcoin ecosystem through proof-of-work mining, the company is working persistently to improve their production rate and efficiency. Also the company is highly dedicated towards the bitcoin network which is clear through their efforts in growing their mining operations.
Sometimes a rise or fall in stock doesn’t come with a clear reason behind it. Similarly RIOT Blockchain has not announced any press release or financial informations that we could relate to its sudden decline. But recently in an article RIOT was put under the four stocks that can crash soon. These are the companies with relatively volatile share prices.
It is a normal trend that share prices once go up, eventually come down and vice versa. To minimize the loss and take precautionary measures it is important to recognize the stock that can crash soon. Many companies that have experienced a hike in their share price over the past year are now seeing a loss of momentum and instability in their stock.
What is happening now?
RIOT Blockchain is an exciting place for investors who want to invest in red-hot bitcoin. But what we cannot deny is that the company’s profit/loss game highly relies on cryptocurrency causing RIOT share price to rise or fall with BTC market price. If we dive deep to figure out this change in stock, it is easily understandable for anyone who has been following the market this year in which Bitcoin and other cryptocurrencies are highly volatile. And this instability has set RIOT stock on a rollercoaster ride in 2021.
This uncertainty resulted in RIOT share to rise 382% and then fall 45% only to rise again by 24%. RIOT stock are showing a change of 10% or greater in a single day and also there is no sign of this instability to end anytime soon. Therefore this up and down in stock will continue to happen for as long as the volatility in Bitcoin is there.