Is Blockchain Finally Ready to Heat Back Up? (LBCC, BTSC, RIOT)


There’s no question that the price of Bitcoin is still the dominant feature of the cryptocurrency complex. And that market continues to be in a bear market, having dropped from nearly $2000 per coin back in December to well under $700 per coin now. This is a healthy correction in the space, and may well be followed by resurgent enthusiasm as the game-changing aspects of the revolution underway in the blockchain, Bitcoin, and cryptocurrency continues rolling along underneath the surface.

Riot Blockchain Inc (NASDAQ: RIOT) builds and supports various blockchain technologies. The company invests primarily in Bitcoin and Ethereum blockchains. It also granted a license relating to single chain reproductive hormone technology for use in no-human mammals. The company was formerly known as Bioptix, Inc. and changed its name to Riot Blockchain, Inc. in October 2017.

Shares have been pulling back sharply off their highs above the $40 per share level in recent action. The stock is seeing some tough times but is still up sharply (nearly 50%) from the levels where it was trading early last fall. That said, traders are looking for a bottom as the stock retests the level where it found its bottom back in November before blasting off higher for over 600% in just two months.
Long Blockchain Corp (NASDAQ: LBCC) recently pivoted into the blockchain space after doing business for a period exclusively as a distributor and producer of ready-to-drink iced tea under the Long Island Iced Tea brand. It also provides lemonade under the The Original Long Island brand name.

Long Blockchain Corp. was founded in 2011 and is based in Farmingdale, New York.

According to company materials, “Long Blockchain Corp. is focused on developing and investing in globally scalable blockchain technology solutions. It is dedicated to becoming a significant participant in the evolution of blockchain technology that creates long term value for its shareholders and the global community by investing in and developing businesses that are “on-chain”. Blockchain technology is fundamentally changing the way people and businesses transact, and the Company will strive to be at the forefront of this dynamic industry, actively pursuing opportunities. Its wholly-owned subsidiary Long Island Brand Beverages, LLC operates in the non-alcohol ready-to-drink segment of the beverage industry under its flagship brand ‘The Original Long Island Brand Iced Tea’.”

For traders just getting interested in this stock, it may be an interesting time. Shares are now retesting the level they were trading at back in December, before the stock blasted off over 300% higher in a matter of days. The critical level to watch is $1.75 per share, which is exactly where the stock closed on Tuesday.

BITCOIN Svcs In/SH SH (OTCMKTS:BTSC) is a blockchain company with business operations based in the mining of Bitcoin (a virtual currency) and Blockchain software development. Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new Bitcoins are released.

Shares have been basing over the past month, with volume starting to increase so far in April, and shares breaking out back above the 20 day exponential moving average. Next up, the stock will have to deal with resistance at the $.10 level, as well as its 50 day and 200 day simple moving averages.