(NEW YORK)–Riot Blockchain, Inc. (NASDAQ: RIOT) in play as Bitcoin (BTC) makes a run towards $10,000 on possible hedge on inflation, and low US Treasury bond rates.
After Bitcoin halving event many are on watch for Bitcoin (BTC) to make its run towards $10,000, and that could make RIOT a perfect way to play this upcoming event.
But, more then that, RIOT may offer way to play $BTC longer-term as the cryptocurrency may become an alternative investment to Gold for post-coronavirus inflation.
Bitcoin $10,000 Event
As Bitcoin makes it’s run to $10,000+ look for traders to rush into RIOT to ride potential push to $2.50, if not higher.
RIOT as Hedge on Inflation
We feel along with gold we could see BTC become an alternative hedge on both inflation and put on any downside market volatility as US Treasuries offer little to no return for investors seeking places to park money to weather a storm. This could put higher demand on assets like gold, and Bitcoin, which could present RIOT as a hedge on both market downside and growing inflation.
Low US Treasury Bond Yields
With US bonds hinting at possible negative interest rates some investors are now seeking alternative safe havens like gold and bitcoin to seek return on their savings.
With US Treasuries yielding around 0.61% we may be starting to see more investors move into bitcoin as an alternative asset in their portfolio, which could set the stage for a possible mega spike in BTC price as economic conditions continue to remain uncertain.
In short-term look for RIOT to make run to $2.00-2.50+ as Bitcoin approaches $10,000. The chart has broken above its key 200-day moving average resistance.
Longer-term Bitcoin could be one of the hottest plays this summer as inflationary pressure builds after so much liquidity has been pumped into financial markets that $BTC could see a potential run to $15,000+, which could push RIOT up to $4.00 to even $5.00+ per share in coming weeks.
REGISTER FOR NEW TRADING IDEAS
If you would like to receive new trading ideas like this register to our investor mailing list here https://wallstreetnewscast.com/investors/
About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) specializes in cryptocurrency mining with a focus on bitcoin. Riot also holds non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and the Company’s primary mining facility is located in Oklahoma City, Oklahoma. For more information, visit www.RiotBlockchain.com
This is NOT a solicitation to Buy or Sell any security, but rather is for informational purposes only. Content contained herein includes facts, views, opinions and recommendations of individuals and organizations deemed of interest. Wall Street Newscast (“WSNC”) does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse these views, opinions or recommendations, or give investment advice. In Compliance with SEC Rule 17B WSNC was not compensated for this media alert. WSNC, or any of its affiliates, hold no positions in securities mentioned above. These investments may involve a high degree of risk, thus investors are highly encouraged to consult with a financial adviser before any and all investments.
Safe Harbor Statements:
This website includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
Small and Micro cap, or ‘penny stocks’, involve a high degree of risk, and we highly encourage investors to consult with a financial adviser before making any and all investment decisions when investing in these type of securities
- 4 Face Mask Stocks to Trade in COVID-19 Outbreak - July 22, 2020
- Dynavax (DVAX) Receives $27M Vaccine Purchase Order from CDC - July 1, 2020
- As COVID-19 Cases Spike Look to PPE Stocks: $LAKE $APT $GTXO - June 15, 2020
- Spike in COVID Cases May Spell Risk Off for Overvalued Stocks and Markets - June 7, 2020
- Riot Blockchain (RIOT) a Hedge on Inflation as Bitcoin Rallies - May 13, 2020
- Stock Valuations Could Set Stage for Potential Bubble Burst - May 9, 2020
- Centennial Resource (CDEV) Boosts Liquidity $468M as WTI Crude Breaks Above $20 Barrel - May 4, 2020
- Companies Should Prepare IT Spending to Thrive in New Normal - April 16, 2020
- Great Elm Capital (GEC) Provides Ventilators and Respiratory Care Equipment - April 15, 2020
- FujiFilm (FUJIY) to Ramp Up Production of Avigan for Treatment of COVID19 - April 15, 2020