Riot Is 9% Down As Bitcoin Dropped Below $30,000

Cryptocurrency stocks are red as Bitcoin dropped below the $30,000 support. Riot Platforms and MicroStrategy are among the biggest losers on Monday, April 17. Is it the right moment to buy low?

Despite the recent rise, stockholders are still underwater by around 8.9% over the past year, even after the stock market’s comeback in the previous 30 days. With a price-to-sales ratio of 8.7x, Riot Platforms may send bearish signals following the firm price bounce.

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