By Could Dmg Blockchain Solutions Inc (DMGGF) be the crypto hedge to make you money?
Current Price of DMGGF
At the time of writing (16 June 2023) the OTC penny stock DMG is hovering around $0.21. It’s slowly but surely lifting out of the 10 cents lows last seen at the end of 2022.
DMGGF and Bitcoin
The stock price of DMGGF is closely connected with the price of Bitcoin because DMG mine Bitcoin and hold a lot of Bitcoins. Currently Bitcoin is valued at $26,300. Bitcoin has risen from the average $16.5k lows last seen towards the end of 2022. So could an explosion in the Bitcoin price be a good DMGGF crypto hedge to make you money?
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In April the price of Bitcoin exceeded $30,000 for one coin. And Bitcoin’s ended it’s biggest crash in recent years in June of 2022 when the price fell to $18.9k and shock waves say it sink again to Dec 2022 lows. It’s clear the Bitcoin recovery has started.
Is the Crypto crash coming to an end?
On the whole the fact is that cryptocurrency crashes don’t last forever and certainly comparing the charts of leading cryptocurrencies no more than 3 years.
The thing is although it’s been just over 1 year since the first Bitcoin price low following its crash, the crash began in November 2021 proper which was when the Bitcoin price peaked at around $64,400.
If Bitcoin is to make new highs, it’s likely to do that before December 2024. If it does, when it reaches it’s last all time high, this will represent approximately a 2.4x its current price.
If DMGGF followed the rising Bitcoin price this would see the stock price of DMGGF at around $0.50. However the price of DMGGF was just over $1 in November of 2021. So it’s easy to see how DMGGF could reach $3 if not more.
DMGGF saw highs of over $3 in Feb 2021 when Bitcoin was around $56k. However since that time DMGGF has been gaining more Bitcoin and if it were to sell some of those Bitcoins as Bitcoin makes new price highs, DMGGF would stand to make a lot of profit.
How high could the stock price of DMGGF rise to?
If the price of Bitcoin ever reached $100k which is possible, then the price of DMGGF could reach $10 if not more, especially if they held on to most of their Bitcoins.
So is Dmg Blockchain Solutions Inc (DMGGF) the crypto hedge to make you money? Well know one knows for certain how any stock might perform over the long term. However what we do know is when the Bitcoin price begins to move proper it all happens very quickly.
The end of 2024 may seem an eternity away but it’s only 18 months away and this is not to say that the Bitcoin rocket has to wait that long before taking off.
Could DMGGF be the crypto hedge to make you money?
Dmg Blockchain Solutions Inc (DMGGF) could be the crypto hedge to make you money too because they operate in the crypto space. As well as mining Bitcoin they are experts in the crypto world. This means they have an underlined asset other than merely holding Bitcoin and other cryptocurrencies.
While $10 may be overly optimistic let us not forget that DMGGF has been a darling of the investing pumping Reddit community. And the Reddit army get behind this stock once again moreover when the price of Bitcoin moves north we could see some interesting gains for DMGGF.
Should you invest in DMGGF?
Does Dmg Blockchain Solutions Inc (DMGGF) offer good value at the current price to warrant it being a decent crypto hedge to make you money? At $0.21 personally I’d give it a shot. You never know. Bear in mind that DMGGF is a long term mid drawer penny stock investment that you should consider carefully. It’s by no means a dead stock, clearly is alive and kicking and a little ignited fuel could see DMGGF take off.
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