Riot Platforms: Poised to Benefit from Bitcoin's Upcoming Halving Event?

New York, New York, USA United States of America
Historically, every Bitcoin halving has resulted in some sort of bullish price action for Bitcoin.
JPMorgan and Goldman Sachs have expressed interest in certain mining stocks to play the upcoming Bitcoin halving event.
Riot Platforms hash rate was 12.4 EH/s at the end of last year and is expected to rise to 31.5 EH/s by the end of this year.
With a higher hash rate, Riot Platforms could mine more blocks, generating more revenue.
Riot Platforms: Poised to Benefit from Bitcoin's Upcoming Halving Event?

Bitcoin, the world's largest cryptocurrency by market capitalization, is gearing up for its third halving event. This automatic reduction in the number of new bitcoins entering circulation every 210,000 blocks has historically led to bullish price action for Bitcoin. In this article, we will explore how the upcoming halving could impact Riot Platforms (RIOT), a leading crypto mining company.

Riot Platforms is currently experiencing a downturn in its stock performance. The company's hash rate was 12.4 exahashes per second at the end of last year and is expected to rise to 31.5 EH/s by the end of this year (Fact 1). With a higher hash rate, Riot Platforms could mine more blocks, generating more revenue (Fact 2).

However, less efficient companies may not be able to compete on the same scale and could wind down their operations. This consolidation in the mining industry could lead to increased demand for Riot Platforms' services and potentially boost its stock price.

The Bitcoin halving is an automatic 50% reduction in the number of bitcoins entering circulation (Fact 3). Historically, every halving has resulted in some sort of bullish price action for Bitcoin. The last two halvings occurred in 2012 and 2016, leading to significant price increases over the following years (Fact 4).

JPMorgan and Goldman Sachs have expressed their preferences for certain mining stocks to play the upcoming bitcoin halving event (Fact 5). This interest from major financial institutions could further fuel investor confidence in Bitcoin and crypto mining stocks like Riot Platforms.

It's important to note that while the historical trend suggests a bullish price action after each halving, there are no guarantees. Factors such as global economic conditions, regulatory decisions, and market sentiment can significantly impact Bitcoin's price.

In conclusion, the upcoming Bitcoin halving event could have a positive impact on Riot Platforms by increasing demand for its mining services due to consolidation in the industry. However, it is crucial to remain cautious and consider various factors that could influence Bitcoin's price post-halving.


Article Image
Article Image
Article Image
Article Image
Article Image
Article Image
Article Image
Article Image

Confidence

90%

Doubts
  • Regulatory decisions and market sentiment could significantly impact Bitcoin's price post-halving.
  • The historical trend of bullish price action after each Bitcoin halving is not guaranteed.

Sources

82%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

JPMorgan Joins Goldman Sachs In Serious Bitcoin Halving Price Warning

Forbes Magazine Billy Bambrough Thursday, 18 April 2024 00:00
  • Unique Points
    • Goldman Sachs analysts have issued a warning about the potential impact of the upcoming bitcoin halving on the price.
    • JPMorgan analysts have joined Goldman Sachs in warning about a potential price drop after the halving.
  • Accuracy
    • The bitcoin price has struggled to gain ground in recent weeks despite rumors of China’s potential action on the price.
    • Historically, previous bitcoin halvings have been followed by price appreciation after the event, but this time around, macro conditions are different.
  • Deception (30%)
    The article contains selective reporting as it only mentions the price warning from Goldman Sachs and JPMorgan without mentioning any opposing views or context. It also uses emotional manipulation by stating 'the bitcoin price has struggled to gain ground in recent weeks despite leaks confirming rumors China could be about to blow up the bitcoin price' which creates a sense of urgency and fear for the reader.
    • We do not expect bitcoin price increases post-halving as it has already been priced in.
    • The bitcoin price has struggled to gain ground in recent weeks despite leaks confirming rumors China could be about to blow up the bitcoin price.
    • Caution should be taken against extrapolating the past cycles and the impact of halving, given the respective prevailing macro conditions.
    • The technical picture for bitcoin is rather worrying,
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (95%)
    The author expresses a negative outlook on the bitcoin price following the upcoming halving, stating that 'historically, the previous three halvings have been accompanied by bitcoin price appreciation after the halving' but also cautioning against extrapolating past cycles due to current macroeconomic conditions. The author then reports on JPMorgan analysts sharing a similar view and providing reasons for their prediction of a post-halving price drop. This represents a clear bias towards expecting a negative outcome for the bitcoin price following the halving.
    • The bitcoin price could fall in the aftermath of the looming bitcoin halving.
      • We do not expect bitcoin price increases post-halving as it has already been priced in.
      • Site Conflicts Of Interest (100%)
        None Found At Time Of Publication
      • Author Conflicts Of Interest (100%)
        None Found At Time Of Publication

      94%

      The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
      (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

      A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

      The ‘halving’ — bitcoin bros’ World Cup — is nigh

      CNN News Site: In-Depth Reporting and Analysis with Some Financial Conflicts and Sensational Language Allison Morrow Thursday, 18 April 2024 10:00
      • Unique Points
        • The halving is an automatic 50% reduction in the number of bitcoin entering circulation.
        • Historically, every halving has resulted in some sort of bullish price action for Bitcoin.
        • There will never be more than 21 million bitcoin.
      • Accuracy
        • The halving should, in theory, push the value of bitcoin higher while keeping its inflation in check.
      • Deception (100%)
        None Found At Time Of Publication
      • Fallacies (90%)
        The author makes several statements about the expected price increase of Bitcoin after the halving event. While these statements are not inherently fallacious, they do lean heavily on the assumption that past trends will continue. This is an example of an Appeal to Tradition fallacy if taken as a definitive statement without any supporting evidence. The author also quotes several experts making bullish predictions about Bitcoin's price after the halving, which could be seen as an Appeal to Authority if not properly contextualized.
        • ]Every halving has historically resulted in some sort of bullish price action[
        • If the previous halvings are anything to go by, it should take no longer than eight months for Bitcoin’s price to double in value.[
        • Noted Antoni Trenchev, co-founder of crypto lender Nexo, in a statement.
        • Noted Molly White, a software engineer and prominent crypto critic, in her newsletter Citation Needed.
        • Echoing that word of caution, Villanova University finance professor John Sedunov wrote that there’s no guarantee bitcoin’s past performance would repeat itself.[
        • Bitcoin is maturing with institutional adoption. It wouldn’t be surprising to see the price of bitcoin increase significantly over the next two years.[
      • Bias (95%)
        The author expresses a bullish view on the price of Bitcoin after the halving and quotes several experts who share this view. This is an example of ideological bias as the author seems to have a strong belief in the success of Bitcoin.
        • Every halving has historically resulted in some sort of bullish price action.
          • If the previous halvings are anything to go by, it should take no longer than eight months for Bitcoin’s price to double in value.
          • Site Conflicts Of Interest (100%)
            None Found At Time Of Publication
          • Author Conflicts Of Interest (100%)
            None Found At Time Of Publication

          98%

          The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
          (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

          A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

          JPMorgan likes these mining stocks to play the upcoming bitcoin halving

          CNBC News Tanaya Macheel Thursday, 18 April 2024 15:34
          • Unique Points
            • JPMorgan has expressed preferences for certain mining stocks
            • The Bitcoin halving is upcoming
          • Accuracy
            • Historically, every halving has resulted in some sort of bullish price action for Bitcoin.
          • Deception (100%)
            None Found At Time Of Publication
          • Fallacies (100%)
            None Found At Time Of Publication
          • Bias (100%)
            None Found At Time Of Publication
          • Site Conflicts Of Interest (100%)
            None Found At Time Of Publication
          • Author Conflicts Of Interest (100%)
            None Found At Time Of Publication

          98%

          The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
          (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

          A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

          Down 58% From Its High, Could Riot Platforms Stock Get Help From the Bitcoin Halving?

          The Motley Fool David Jagielski Thursday, 18 April 2024 08:54
          • Unique Points
            • Riot Platforms hash rate was 12.4 exahashes per second at the end of last year and expects it to rise to 31.5 EH/s by the end of this year
            • Riot Platforms could mine more blocks with a higher hash rate, generating more revenue
            • Less efficient companies may not be able to compete on the same scale and could wind down their operations
          • Accuracy
            • Bitcoin hit all-time highs in 2024
            • Historically, Bitcoin’s price has risen following a halving event
          • Deception (100%)
            None Found At Time Of Publication
          • Fallacies (100%)
            None Found At Time Of Publication
          • Bias (100%)
            None Found At Time Of Publication
          • Site Conflicts Of Interest (100%)
            None Found At Time Of Publication
          • Author Conflicts Of Interest (100%)
            None Found At Time Of Publication