RIOT Price Drop

“Rocky!” you shout from across the lands, “You said this was going to $60!”.

Yes, and I also said that the artificially high exchange rate of BTC to USD was coming to an end. Remember that Riot, while multi-faceted, is heavily invested in mining. Their price is somewhat pegged directly to the value of Bitcoin.

The fact of the matter is, Bitcoin is going to continue to increase in value while the USD continues to decrease. The Reddit Bets crowd is pretty much not a thing anymore, probably since most of them are 12 and schools are re-opening. Also, we’re in a bear market, actually a double-bear. “Rocky, that’s not a thing!”, you cry in defiant outrage. Let me give you the gist without explaining - The bear market was coming just as a natural market trend. There are also forces at work forcing us into a bear market, both directly and indirectly. Maybe we should call it a downward dog, instead.

I would love nothing more to have a legitimate excuse not to explore this topic further, but I don’t. And I’m still not going to.

What’s important here is that Riot’s volatility is subsiding for now, its price is coming down a little, and as long as it remains under $60, Rocky recommends buy-writes.

If you jumped on the Rockydennis Riot Rollercoaster late in the game, just hold on to your shares man. Milk those premiums. If you got in at $4, I mean… Highfive, brother!

There isn’t going to be a scenario where I recommend against doing anything with RIOT, besides selling. Selling is dumb. Unless you got in at $4 and want to take profit sooner than later. Then, in that case, okay maybe selling is right for you. Not gonna lie fam, we might see a double downward dog to $30.

TLDR - Don’t Be Scared