FIRST BITCOIN CAP COM NPV (OTCMKTS:BITCF) rallied into April topping .75 cents per share, but had a few bumps in the road falling back to the .20 cent level where it began the rally in March, but the real volatility occurred in April as shares had a large single day decline. Any investor who adds bitcoin or blockchain to their investment portfolio must do so with a game plan. These stocks will move independent of the underlying bitcoin price, which is volatile on its own, so you have a firecracker in your hand ready to go off.
This is a sector where the stocks are in the 2nd inning of a 9 inning game, and they will be driven higher on news and the price appreciation of the underlying bitcoin. A look at the chart shows a rally to .75 cents followed by some negative news from the exchange, which sent shares spiraling lower. The company smartly addressed the issues with the OTC and put the focus back on the Bitcoin prices, and shares recovered.
Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company’s subsidiary, COINQX.com as well as XB on the CCEX.com exchanges.
XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols.
Due to the ephemeral nature of XBU/XB, the Company’s creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins.
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Also the company paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free. “Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability.” The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to “early bird” participants.
FIRST BITCOIN CAP COM NPV (OTCMKTS:BITCF) is dealing with it’s exchange issues and keeping the focus on operations and the price of the underlying bitcoin. It is important to know that a majority of the public is uneducated about digital currency, and they are just learning the terminology around Bitcoin and the clearing mechanism blockchain. This sector has a parabolic growth ramp in it’s future, and not enough entrants at the moment, so companies like BITCF will benefit in these early stages. They will suffer when they have mis-steps, and these will be exaggerated which creates the kind of volatility the company had recently. This only means you need to pay closer attention to what is happening with the company itself.
These new sectors (like cannabis and blockchain) are expected to have volatile days requiring the investor to have a game plan going in to owning stocks in the sector. The price of bitcoin went from $300 to $2100 in 2 years and not one person on the earth knows where it will be 1 year from now. It is our job to find stocks trading around the underlying currency so investors can sort out the periphery market opportunities as these new exciting sectors appear on the horizon. For continuing coverage on shares of $BITCF and other hot stock picks, sign up for our free newsletter today and get our next break-out pick!