I bought this stock 4 days ago. The reason (honestly) I bought was because I saw "Blockchain". I have read a ton of opinions on the future of the stock price, and for the life of me I can't see the reality through all the opinions. Reality check: this particular stock is a representation of a global fear of losing what "we" have worked hard for. This stock is a RIOT against this FUBARed system.
All I saw was chart up; blockchain; bitcoin mining and safety for my cash. The company itself is not the point. The company has made a great decision to move into a blossoming emerging market, at the right time. If it "follows" the BTC trend even better.
We all know deep down the BTC tech is finite and limited by its carbon footprint. So in my humble opinion, I will watch this stock grow until BTC starts to fail. That is not anytime soon.. I read a great IDEA here that basically patience will pay off more than reaction. I have set my stop loss and will stay put until the price drops 10% of the daily high (based on my shares).
Once I cash out of this stock I will find similar investments, well, because I tired of this corrupted system too.
It's very simple. RIOT tracks the price of BTC. MARA does as well. In theory, they profit when BTC goes up. Put them together on a chart and you'll see. Once the current correction subsides, I'd recommend using both to augment a long position in BTC. Always good to layer correlating assets on to a position that has strong momentum and you can protect your downside w/stop losses. Good luck!
WhateverGuy
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@Nomad_XIV yes I am keeping as a BTC layer... I will be adding to this once I see a bottom indicator.
RiskyBizz
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looks like it's time to look elsewhere! lol
WhateverGuy
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@RiskyBizz well then keep looking and I'll add when I can see a bottom! Then I'll watch it go up with BTC.