BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC)
The bullish run of BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) shows no signs of slowing down as the value of crypto-currency Bitcoin also continues to move higher. In the last few weeks BTSC has risen from lows of $0.004 to current highs of $0.091 a share.
The big question now is whether the stock can continue to trade higher as some investors remain skeptical about the crypto currency’s bullish run. For some, a point of concern is that a bubble may be slowly building around the crypto-currency. The virtual currency has hit an all-time high of $2,967 even as market concerns grow. Given the currency’s history, a tumble at some point could be in the cards.
A tumble of Bitcoin prices in the market will, by all means, have an impact on BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) given that the company’s revenues revolve around the currency’s adoption growth. BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) core business revolves around two operations, bitcoin mining and Blockchain software development.
Bitcoin Services Prospects
BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) generates a good chunk of its revenues from the business of processing transactional confirmations on the crypto-currency and blockchain. It currently owns and operates a Bitcoin mining rig. At the start of the year the company issued a statement that it was purchasing Antminer S9s to mine Bitcoins.
The fact that BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) sells its products and services worldwide means it will continue to power higher in the market as Bitcoin maintains the current upward trend. Fundamentals pushing the crypto-currency higher should help sustain the company’s prospects as investors explore ways of generating returns from the crypto-currency’s global adoption.
Blockchain software operations also continue to provide a layer of safety for Bitcoin Services analysts. As long as people use Bitcoin, the company should be able to market its bitcoin blockchain software allowing it to generate sustainable revenues.
BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) is currently trading at the higher end of its trading range of $0.07 and $0.09 a share. The stock was up by 11.93% in Thursday’s trading session ending the day at $0.0910 a share.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.