Riot Platforms stock price analysis: Here comes the death cross
Riot Platforms (NASDAQ: RIOT) stock price continued its sell-off even as Bitcoin and other cryptocurrencies held steady. The shares plunged to a low of $8.90 on Tuesday, the lowest level since April 6th. It has retreated by more than 56% from its highest point this year, meaning it is in a deep bear zone. Bitcoin is holding really well Riot Platforms is a major company in the Bitcoin mining industry. The company runs some of the biggest mining rigs in the world. For example, its Rockdale facility is the biggest mining and hosting facility in North America. It has a deployed hash rate of 10.7 EH/s. Riot Platforms and other mining companies like Marathon Digital, Cipher Mining, and Argo Blockchain tend to do well when Bitcoin price is rising. This explains why the shares jumped to a high of over $20.6 when Bitcoin surged to the year-to-date high of $32,000. Therefore, it is quite surprising that the Riot Platforms share price has plung...