The bitcoin frenzy continues.
After my post “Ride the bitcoin wave with these 11 cryptocurrency-related stocks,” I continue to receive requests for more bitcoin BTCUSD, and bitcoin-related stocks. The reason is that some of the stocks mentioned have done extremely well. For example, Riot Blockchain RIOT, gained 216% since the article ran; Overstock OSTK, jumped 81% in a short time.
Here are seven new stocks to review. But be careful. (More on that later.)
Please click here for an annotated chart of Genetic Technologies GENE, The chart shows a spike on blockchain-related news. Speculators often look at a chart and see how much room there is to run. The chart shows there is a lot of room to run for this stock. There is another supporting factor that there is a parallel to Riot Blockchain. Riot was in the biotechnology business and jumped into blockchain, causing the stock to run over 200% from my prior mention. Genetic Technologies is also in the biotech business.
There is a lot of potential in applying blockchain to medical information. Perhaps this is why some traders are excited. However, there are several cautions here. The company is not doing anything in blockchain right now. There is simply a mention in a filing of blockchain. Also, this is a nano-cap stock and can be easily manipulated. This is suitable only for experienced short-term aggressive traders. Traders need to be experienced with stops on highly volatile nano-caps….Read more at MarketWatch
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