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Blockchain Stock Overstock.com Relentlessly Higher

Blockchain stocks are incredibly hot right now. Stocks like Riot Blockchain and BTL Group are running like crazy. That is to some extent linked to the amazing rise of Bitcoin and other cryptocurrencies like Ethereum and Litecoin.

Up until now there has been a very strong correlation in bullishness between the small number of blockchain stocks and cryptocurrencies. However, we believe there is a fundamental shift going on in blockchain stocks: they are going to start a major bull market which may not be driven by cryptocurrencies any longer.

Blockchain is a very young technology but it is finally starting to take off, literally. This implies, according to us, that blockchain companies are able to deliver value, and that the group of blockchain stocks will grow, reaching critical mass.

One such stock is Overstock.com (OSTK). It was an online retailer but is visibly focusing on blockchain. There are even rumors that it could sell its online retail business in order to become a blockchain company.

Be that as it may since it started accelerating its blockchain involvement its stock price started to rise exponentially.

We feature the 15 year chart which basically since the IPO of the company. The chart makes the point.

How high can this stock climb? Given the trading volume (not visible on this chart but it is flat in recent 2 weeks) on rising prices we believe there is still upside potential in this stock. It is impossible to make any forecast based on historical prices given that the company is reorienting its activities. But investors visibly anticipate on a high value out of the company’s activities resulting in a market cap north of $2 Billion which means an upside potential of at least 30 percent.

One thing is clear: Blockchain is starting to really take off, and it could be that this is just the start of outrageous stock prices similar to the dotcom period.

If anything InvestingHaven’s research is going to focus extensively on this sector and will write much more about it (even publish exclusive reports). Stay tuned.

blockchain stock overstock

 

Do you want to know how Overstock ranks against all other blockchain stocks out there? Subscribe to InvestingHaven’s Blockchain Stock Investing Research Service to get a full list of blockchain stocks >>

 

 
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