This crypto stock will destroy short sellers
Following a recent surge that propelled Bitcoin (BTC) to an 18-month high exceeding $44,000, the cryptocurrency market is once again ablaze with bullish momentum. Beyond the primary digital assets, this rally is notably benefiting crypto-related stocks, particularly those of publicly listed Bitcoin mining firms. One stock that could particularly capitalize on this uptrend is Riot Blockchain (NASDAQ: RIOT), the largest public crypto mining company. Amidst these developments, a popular chartist has boldly declared that crypto mining stocks are poised to “destroy short sellers,” underscoring the optimism surrounding their anticipated upward trajectory in the current market cycle. Why could RIOT stock surge in price? In his December 5 analysis post, cycle forecaster and chartist published an interesting chart showcasing several factors that could drive Bitcoin mining stocks, particularly RIOT, to new highs. Most notably, the analyst pointed out that RIOTs shares are ever closer to breaking out of a long-term descending trend line from the bull market peak reached in 2021. A successful breakout may lead to a significant price jump, he said. “Miners are going to destroy short sellers! Were so close to breaking out of the long-term descending trend line from the cycle peak in 2021! Expect some serious movement upwards once that happens.” Additionally, the structure



