juliannafunk
In October 2017, a biotech diagnostic company named Bioptix rebranded to Riot Blockchain. The stock doubled. That entity is currently known as Riot Platforms, Inc. (RIOT); a survivor of the 2017 'race to be a blockchain company' trend
Amid Fresh Bitcoin All-Time Highs, Bearish Signals Are Mounting
Summary
- Bitcoin has blasted to a new all-time high price nearing $119k per coin.
- Despite the exuberance in the price, the data is less exciting. Miner Volume share and Exchange Volume are reminiscent of previous price peaks.
- Not all indicators are screaming sell though. MVRV and James Check's Euphoria Zone still show room to run.
- But the proliferation of Bitcoin, Ethereum, and Solana 'Treasury Companies' reminds of prior manias.
- I'm staying long. But it never hurts to lock in some profit at new highs.
Former media research analyst. Main coverage areas are crypto, BTC miners, metal, and media equities. I'm not an investment advisor. I just share what I do with my own capital and why. Outside of Seeking Alpha, I also write the Heretic Speculator newsletter over at Substack.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of BTC-USD, ETH-USD, SOL-USD, BTBT, FBTC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I'm not an investment advisor.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.