Bitcoin Services (BTSC), a rare Bitcoin stock that may be a great opportunity
Up 43% today (June 1) since I penned this, wow! They are saying they will mine bitcoin for their shareholders. There is not a ton of info out there so I do not have a ton of info about this stock. I know this, it is one of the very few bitcoin/crypto related stocks out there and that alone may give it whale like potential. I have taken a position and think it is worth considering for those that like to speculate. It has been moving up and down with big moves as a word of warning, but mostly up of late. Also, I bought this as a momentum/potential play, not because of any income valuation at this point in time. It is a ticket to own what it MAY be down the road, not what it is now, in my humble opinion.
I think the great potential is because it fulfills a niche for many. There are still a lot of people who realize bitcoin is going up greatly and would like to participate, but they are not comfortable owning bitcoin because they may not understand the exchanges, wallets, etc.
This stock gives that still large segment of people the opportunity to get on board this earth shaking crypto move, but within their own comfort zone by simply buying a stock that is related to bitcoin. Again, there are only a precious few crypto stocks at this point in time and this may be a chance to get on board a crypto stock way before the masses find it and buy into it, which if that happens, would drive the price way higher. I would recommend if one wants to take a position to dollar cost average in as the price has been all over the place and jumping in with both feet may prove costly.
For your consideration:
Bitcoin Services, Inc. (BTSC)
0.0719+0.01 (+15.41%)
As of 11:03AM EDT. Market open.
Day's Range 0.0670 - 0.0825
52 Week Range 0.0012 - 0.0825
Volume 16,741,257
Avg. Volume 4,905,543
Market Cap 33.28M
It is traded on the US OTC stock market.
MOTOWNGOLD!
My disclaimer, The above references are an opinion and for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Damn, I missed that one. But there are alternatives: Bitcoin Shop (BTCS), Hashingspace (HSHS), BTL Group (BTL) and Global Arena Holding (GAHC)
Wow, it keeps on running higher, very small pullbacks if at all. I will look into your suggestions, thank you.
I don't know a lot about this stock, who is it's CEO or what-have-you, but, from a purely technical-analysis point of view, this could be a strong buy under certain conditions.
That said, I advise against buying right now, after such a big gain with very little pull-back.
https://www.tradingview.com/x/fvvxBlvi/
You can see on the hourly chart above that there has really been no pull-back to speak of since the late May move (May 25th, to be exact).
Moreover, there was a large gap up in price (circled and highlighted with red) on June 1st. My experience tells me to expect price to come back to test that gap (or "fill" the gap). That would be the first price point that I'd consider taking a position and I wouldn't throw my whole wad at it at that level either (in the case that I'm approaching it as an investment that I'm going to sit on for many months or years).
Another thing to watch is the moving averages. I feel uncomfortable any time that price is a significant distance above them. Sometimes price can manage to make an exponential move away from them and continue to add distance on them, but, typically, the further and faster the price moves away the faster and harder they fall once they establish a top and they usually come back to "test" those moving averages.
In this case, the 50 SMA (red line) isn't too far away from price, but it's far enough that I would rather wait for a correction (possible test of that line), which is probable in the next couple of days, IMO. I like having the comfort of a major moving average nearby when I take positions, as these conditions make for less risk of volatile drops in price.
Great technical analysis point of view, much appreciated. I cannot argue it would MUCH better to buy on a pullback if it comes. I have no real feel as to where this is going short term, long term, it looks like way higher, time will tell.
If it follows bitcoin at all, I agree that it will likely be much higher in the future. How much?
Your guess is as good as mine :)
A guess is right, you said it!!! lol!
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@motowngold I agree that there is nothing wrong with profiting and making money regardless if it is with crypto or with stocks. I would never want to limit myself as if there is a profit to be made I'm all for it.
Nothing wrong at all with a profit, so far today, this stock is up 40%, hard to argue with that!
I think I've made it clear that the concept behind crypto's is a freedom movement.
I agree with you, but I wont let that stop me from profiting along the way. I have a lot of hard asset friends, they wont buy cryptos for the same reason crypto people wont buy hard assets. Me, I am in the middle and open to all possibilities.
I feel the same - some where in the middle :)
Good to be versatile, for sure.
Which exchange is it listed on?
OTC in the US
Ah, I am an online exchange amateur!
I bought it with 2 different accounts, one in Scottrade, other in Ameritrade if that helps!
IT is a help but I stay on Bittrex or Polo! Cheers tho!
I see, this is a US listed stock, not a crypto, so maybe a bit of a different animal than what you are looking for.
As with normal BTC mining where you effectively rent the mining rigs (not buy shares in company that mines), you'll always be better off just buying the assets outright. The same applies here. If the company goes bust you'll end up with nothing. Yes, bitcoin can also go down to zero, but which one of the 2 options is least likely to crash and burn? - is the question you want ask.
penny stock that fluctuates btsc. Buy low or lose fast.
This a typical penny stock plus the business keeps moving around. Not sure if its even legit. No pumps and dumps on it yet. Its in crashing mode and has lost half its value.