Posted 1/7/2024, 10:30:00 AM
Riot Platforms Soars on Bitcoin Mania, But Future Hinges on Cryptocurrency's Boom-Bust Cycles
- Riot Platforms stock soared in 2023 due to rising Bitcoin prices, but future performance depends on Bitcoin's cyclical swings
- Bitcoin goes through bull and bear cycles, which impacts mining stocks like Riot Platforms
- The Bitcoin "halving" in 2024 will cut mining rewards in half, hurting miners' profits
- Riot Platforms performed well after the last halving in 2020 as Bitcoin prices rose dramatically
- It might make more sense to invest in Bitcoin directly rather than Bitcoin mining stocks