{"id":210775,"date":"2021-03-25T19:02:21","date_gmt":"2021-03-25T16:02:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/riot-blockchain-stock-plunges-with-bitcoin-as-market-correction-deepens\/"},"modified":"2021-03-25T19:02:21","modified_gmt":"2021-03-25T16:02:21","slug":"riot-blockchain-stock-plunges-with-bitcoin-as-market-correction-deepens","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/riot-blockchain-stock-plunges-with-bitcoin-as-market-correction-deepens\/","title":{"rendered":"# Riot Blockchain stock plunges with Bitcoin as market correction deepens"},"content":{"rendered":"<p>&#8220;<strong># Riot Blockchain stock plunges with Bitcoin as market correction deepens  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Shares of Riot Blockchain (RIOT) and other cryptocurrency miners sold off sharply on Thursday, as Bitcoin\u2019s (BTC) gravitational pull on the market continued to broaden.\u00a0<\/p>\n<p>RIOT declined by as much as 14.4% during Thursday\u2019s session, extending its losing streak to four days. The stock has declined 29% over that stretch and is down over 44% from its all-time closing high on February 17.<\/p>\n<p>At the time of writing, RIOT had pared most of its daily losses to trade above $43.00. Its market cap currently stands at just under $3 billion. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/290e892c-0578-41b7-a72f-4c0ff1d3c97f.png\"><figcaption style=\"text-align: center;\"><em>RIOT has corrected sharply from its all-time high. Chart via TradingView<\/em><\/figcaption><\/figure>\n<p>RIOT wasn\u2019t the only crypto-focused stock to decline on Thursday. Shares of Marathon Digital Holdings (MARA), Hive Blockchain (HIVE) and Hut 8 (HUT) all posted heavy losses. <\/p>\n<p>The selloff by crypto miners coincides with a sharp correction in the price of Bitcoin, as the flagship cryptocurrency struggled to find support despite bullish industry <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>. Bitcoin\u2019s price bottomed at $50,360 on Thursday, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">according<\/a> to TradingView data. It has since reclaimed the $51,000 level, having declined over 9% in the last 24 hours. <\/p>\n<p>As Cointelegraph recently reported, a strengthening U.S. dollar may have taken the sails out of the BTC rally after Federal Reserve Chairman Jerome Powell hinted that monetary stimulus could be withdrawn due to substantial progress in the economy.<\/p>\n<p>Publicly-traded companies like Riot Blockchain provide investors with indirect exposure to digital assets like Bitcoin. With a strong focus on Bitcoin mining, Riot\u2019s fortunes reflect underlying demand for the digital currency. <\/p>\n<p>Investors can also gain exposure to Riot through JPMorgan Chase\u2019s Cryptocurrency Exposure Basket, a new debt instrument that consists of 11 U.S.-listed companies. Riot is listed alongside MicroStrategy, Square and Nvidia, among others. <\/p>\n<p>Riot\u2019s stock price surged alongside Bitcoin in the first quarter, with the company announcing that it expects to meet its hash rate capacity in the calendar year. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/riot-blockchain-stock-plunges-with-bitcoin-as-market-correction-deepens\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Riot Blockchain stock plunges with Bitcoin as market correction deepens &#8221; Shares of Riot Blockchain (RIOT) and other cryptocurrency miners sold off sharply on Thursday, as Bitcoin\u2019s (BTC) gravitational pull on the market continued to broaden.\u00a0 RIOT declined by as much as 14.4% during Thursday\u2019s session, extending its losing streak to four days. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":210776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvMDRlODMwNmYtMTc1NC00MDIyLWJhYjQtNDkzMjE4MzA4NzMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,74937,74863,117,70359],"class_list":["post-210775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-bitcoin-price","tag-cryptocurrencies","tag-business","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/210775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=210775"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/210775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/210776"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=210775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=210775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=210775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}