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Bitcoin has made a bullish move over the last 5 days. This giant bitcoin cryptocurrency new could be great new for Dmg Blockchain Solutions Inc.
It may have escaped your notice that over the last 5 days the priced of Bitcoin has risen. This rally could be the start of a bigger bullish rally that could rocket many cryptocurrencies including stocks such as Dmg Blockchain Solutions.
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Bitcoin highs were last seen in November 2021 reaching almost 150% of its current price.
Around the same time, the penny stock price of Dmg was $1.14. And this stock Dmg had seen highs of $3.02 in Feb 2021. When the Bitcoin price moves so does Dmg given that Dmg Blockchain Solutions holds bitcoins.
But more than this, Dmg sets to profit from cryptocurrency transition fees. The Higher Bitcoin trades the more trades will be fuelled in the cryptocurrency space likely leading to massive profits for Dmg.
In addition Dmg is a strong server provider for the cryptocurrency space thus strong demand is a positive sign for this penny stock.
The question is whether Bitcoin can maintain is rise in its price. One has to consider that the longer the price if Bitcoin stays down the more Bitcoins are mined which can push up the Bitcoin price.
With a limited supply Bitcoin, the king of cryptos could rocket to the moon when the time comes close to Bitcoin reaching is limit. As the date of this Tabstocks article there are only 2 million bitcoins left to be mined.
About 900 Bitcoins are mined every day. At this current rate it will be another 2,222 days before Bitcoin reaches is 21 million maximum limit. Therefore it will take about 6 more years for Bitcoin to reach the top.
Within these 6 years Bitcoin could make further new highs in traders and investors anticipation of what is to come. Dmg is likely to profit from the inevitable rise of Bitcoin over the next 6 years and beyond.
And one can expect the stock price of Dmg to fly too.
As well as investing in Dmg Blockchain Solutions Inc stock investors might consider investing in Bitcoin crypto and some of the leading high ranking cryptocurrencies that dominate the space.
One of the big crypto players is XLM Stellar. XLM is expanding fast is regions of the world that rely on the blockchain and safe easy to use transfer of funds in a timely manner. Indeed it is believed that Elon Musk has his eye on XLM Stellar has his new baby crypto.
Is Bitcoin 5 day rally great for Dmg Blockchain Solutions Inc?
Whatever your views about all of the above, it is sure interesting to watch the ups ad downs of cryptos like Bitcoin and XLM and how penny stocks like Dmg can profit.
If Bitcoin’s 5 day rally is a sign of bigger moves, this could be great for Dmg Blockchain Solutions Inc in 2023 and beyond.
When you compare the price of Dmg and Bitcoin over the last 5 years you can see that since the Bitcoin high the current price of Dmg is way below where it should be.
It’s worth bearing in mind that penny stocks have suffered since the pandemic and if the NYSE, NASDAQ and FTSE can hold there own over 2023/4 this should help push up the price of many penny stocks.
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